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Rebate On Bills Discounted
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In this video meaning of Rebate on Bills Discounted is explained clearly with simple examples Also one problem is discussed and solved with clear cut explanations Show more
Method of Computation of Rebate on Bills Discounted If a customer discounts 60 000 for 3 months at 12 on 1st March 2010 it will be calculated as follows Bank will earn discount 12 for 92 days i e 60 000 x 12 100 x 92 365 Rs 1814
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Rebate On Bills Discounted Problem 3 YouTube
Rebate On Bills Discounted Problem 3 YouTube
In the present video the concept of Rebate on Bills Discounted is explained with the help of two solved illustrations
Discount A cash discount is recorded in the books of accounts while a trade discount is not Since the discount allowed is a clear expense for a business in order to earn revenue the journal entry for a discount is Journal entry for recording a discount of 10 on products worth 50 000 Rebate
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Rebate On Bills Discounted Problem 2 YouTube
Rebate On Bills Discounted Problem 2 YouTube
Rebates may also serve as a way to offer discounted prices across certain items without actually lowering the price What Are the Differences Between Rebates and Discounts Discounts involve an immediate reduction in the purchase price which results in the seller incurring a loss
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 Was this answer helpful 3 Similar Questions Q 1
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Solved Previous University Questions On Calculation Of Rebate On Bills
Rebate On Bills Discounted YouTube
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Rebate On Bills Discounted Meaning Method Of Computation And
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Method of Computation of Rebate on Bills Discounted If a customer discounts 60 000 for 3 months at 12 on 1st March 2010 it will be calculated as follows Bank will earn discount 12 for 92 days i e 60 000 x 12 100 x 92 365 Rs 1814
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The discount rate was 15 p a The average period of discount was 95 days Bills of Rs 4 00 000 were to mature at 45 days after 31st March 2005 Show the Journal Entries and prepare Interest and Discount Account and Rebate on Bills Discount Account in the books of ABC Bank Ltd
Method of Computation of Rebate on Bills Discounted If a customer discounts 60 000 for 3 months at 12 on 1st March 2010 it will be calculated as follows Bank will earn discount 12 for 92 days i e 60 000 x 12 100 x 92 365 Rs 1814
The discount rate was 15 p a The average period of discount was 95 days Bills of Rs 4 00 000 were to mature at 45 days after 31st March 2005 Show the Journal Entries and prepare Interest and Discount Account and Rebate on Bills Discount Account in the books of ABC Bank Ltd
Rebate On Bills Discounted Banking Company Accounts Advanced
Rebate On Bills Discounted Bank Accounts YouTube
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Rebate On Bills Discounted Meaning Problem 1 With Solution Corporate
Rebate On Bills Discounted Meaning Problem 1 With Solution Corporate
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