When the Rebate on bill discounted is given in adjustment in case of Banking co. it is processed in.
A. Profit and loss account only
B. Balance Sheet only
C. Profit and loss account and Balance Sheet
D. None of the above
Answer:C
When the Rebate on bill discounted is given in adjustment in case of Banking co. it is processed in.
A. Profit and loss account only B. Balance Sheet only C. Profit and loss account and Balance Sheet D. None of the above