Model Rebate on bills discounted The trial balance of BC Bank Ltd as on 31 March 2011 shows the following balances Rs Interest and Discount 37,27,170 Rebate on Bills Discounted (1 April 2010) 7,150 Bills Discounted and Purchased 2,27,500 The unexpired discount as on 31 March 2011 is estimated to be...

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Model: Rebate on bills discounted The trial balance of BC Bank Ltd. as on 31 March 2011

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Model: Rebate on bills discounted The trial balance of BC Bank Ltd. as on 31 March 2011 shows the following balances:

	Rs.
Interest and Discount	37,27,170
Rebate on Bills Discounted (1 April 2010)	7,150
Bills Discounted and Purchased	2,27,500

The unexpired discount as on 31 March 2011 is estimated to be Rs.24,125. Draft necessary adjusting entries and calculate the amount of interest and discount to be credited to P & L A/c.

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Intermediate Accounting principles and analysis

ISBN: 978-0471737933

2nd Edition

Authors: Terry d. Warfield, jerry j. weygandt, Donald e. kieso

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Posted Date: Apr 22, 2021 04:16 PM

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Model: Rebate on bills discounted The trial balance of BC Bank Ltd. as on 31 March 2011

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Intermediate Accounting principles and analysis

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