aliensbrain
  • Home
  • Study
  • Quizzes
  • 🎤AI Practicefree
  • Notebooks
  • Community
  • Sign in
  • Accounting & Finance for Bankers - 1 (JAIIB)
  • Bills payable discounted in cash by creditor will be show...
Multiple choice

Bills payable discounted in cash by creditor will be shown in

  1. journal

  2. ledger

  3. bank book

  4. No entry required

Reveal answer Fill a bubble to check yourself
D Correct answer
Explanation

Bills payable discounted in the cash by the creditor need not be recorded.

Keep practicing — related questions

  • Total of Bills Payable Journal is posted to the
  • When bill discounted with the bank is dishonoured,
  • A shopkeeper offers 12% discount on plastic toys. He offers a further discount of 5% on cash payment. What ...
  • On 1st April, A draws a bill of 3 months on B for Rs. 5,000 for mutual accommodation. The bill was discount...
  • The process of maintenance of account books, discounting of bills and collection of bills on due date by a ...
  • What is the journal entry for transaction of cash received from Harish at 5% cash discount?
  • Mr. A accepts the bill on 1st March 2010, which is payable after 4 months. The due date of the bill is
  • Rajeev drew a bill on Vaibhav on 12th May for Rs. 20,000 payable 3 months after the date. The bill was acce...
Play the full quiz 🎤 Practise this topic out loud

Practice this topic

  • Banking and Cash Transactions (990 questions)
Advertisement
© Aliensbrain | all rights reserved
  • About
  • Contact
  • Terms and Condition
  • Privacy Policy