Rebate on bill discounted
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In the books of drawer:- Rebate on Bill A/c -Dr
Bank A/c. -Dr
To B/R A/c
( Being the rebate paid and amount of the Bill received before maturity)
In the books of drawer:- B/P A/c. -Dr
To Rebate on Bill A/c
To Bank A/c
(Being the rebate received and amount of Bill paid before maturity)
Bank A/c. -Dr
To B/R A/c
( Being the rebate paid and amount of the Bill received before maturity)
In the books of drawer:- B/P A/c. -Dr
To Rebate on Bill A/c
To Bank A/c
(Being the rebate received and amount of Bill paid before maturity)
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