What is rebate on bill discounting in banking?

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What is rebate on bill discounting in banking?

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What is rebate on bill discounting in banking?

The following entry is required to be passed: Interest and Discount A/c Dr. To Rebate on Bills Discounted A/c. ADVERTISEMENTS: In other words, the same is deducted from Interest and Discount Account in Profit and LossAccount and the same will also appear in the Liability side of the Balance Sheet.

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From the following balance of Punjab National Bank Limited as on March 2017 prepare its balance sheet in the in the prescribed form ₹paid up capital(shares of ₹100fully pai d) 20,00000bill discounted 18,00,000 reserve fund 7, 70,000cash credits 20,00,000 overdrafts 8,00,000 Unclaimed dividends 10,000 Loans 46,00,000 current deposits 38,00,000furniture 40,000 profit and loss accounts (cr) 2,20,000 stamps and stationery 10,000cash in hand 5,00,000cash with Reserve Bank 13,00,000branch in adjustment(dr) 1,70,000 investments 9,50,000 Loans(cr) 12,00,000 recurring deposits 10,00,000 fixed deposites 20,00,000cash certificates 10,00,000 Contingency Reserve 1,70,000adjustments: (

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What is rebate on bill discounting in banking? for B Com 2024 is part of B Com preparation. The Question and answers have been prepared according to the B Com exam syllabus. Information about What is rebate on bill discounting in banking? covers all topics & solutions for B Com 2024 Exam. Find important definitions, questions, meanings, examples, exercises and tests below for What is rebate on bill discounting in banking?.

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