Promissory notes

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90 Points Posted on 23 February 2021
I have received promissory note of Rs.30 lakh. plz suggest treatment of this in account
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On 23 February 2021 at 14:20 Report
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This discussion addresses the accounting treatment for a promissory note valued at Rs. 30 lakh. The core question is how to represent this financial instrument on the balance sheet. Advice is sought on the appropriate account classification for this significant asset.

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Chartered Accountant
24588 Points Posted on 23 February 2021
For which account?
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On 23 February 2021 at 14:44
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90 Points Posted on 23 February 2021
In balance sheet
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On 23 February 2021 at 19:23

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