Accountancy, asked by Tanmaychavda839, 2 months ago

Calculate due date if it is not given on rebate on bills discount

Answers

Answered by ritachow

Answer:

Rebate on bills discounted is also known as discount received in advance i.e. discount received but not earned. In such a situation, the rebate on bills discounts will be deducted from interest and discount in profit & loss account and shown as liability in the balance sheet.

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