Question: BoE 5 Question Five During the year ended 31 December 2021, F Manufacturing Co. Ltd accepted bills of exchange totaling P78 932. Of these, the

BoE 5 Question Five During the year ended 31 December 2021,

BoE 5

Question Five During the year ended 31 December 2021, F Manufacturing Co. Ltd accepted bills of exchange totaling P78 932. Of these, the drawers discounted P51 300 with their various banks for discounts totaling P4 070. By the end of the year the company had met, on maturity, bills amounting to P46 500. Required: (a) Prepare the necessary ledger accounts in view of the information provided (b) State to what extent, if any, the above matters would directly appear in the company's balance sheet on 31 December 2021

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