Question
A retires a bill for Rs. 1000 drawn on him by B for rebate of Rs. 10. By what cash amount should be credited in the books of B?
Answer: Option A
:
A
Journal entry in the books of B:
Bills Payable A/c Dr.
1,000
To Cash A/c
990
To Rebate on Bills A/c
10
Was this answer helpful ?
:
A
Journal entry in the books of B:
Bills Payable A/c Dr.
1,000
To Cash A/c
990
To Rebate on Bills A/c
10
Was this answer helpful ?
More Questions on This Topic :
Latest Videos
Latest Test Papers
Submit Solution