how should i treat unexpired discount on profit and loss Account and balance sheet
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this may help u bro
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ADVERTISEMENTS: Treatment in Profit and Loss Account and Balance Sheet: (i) Discount earned (up to 31.12. 1992) will be credited to P & L A/c and unexpired discount will, however, be credited to Rebate on Bills Discounted A/c, and will appear in the liability side of the Balance Sheet.
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