e Journal entry to record the closing rebate on bills discounted is dr Rebate on bills discounted Dr Interest and discount Dr Rebate on bills discounted Cr Interest and discount None of these Dr Rebate on bills discounted Cr Bills discounted

e Journal entry to record the closing rebate on bills discounted is dr Rebate on bills discounted Dr Interest and discount Dr Rebate on bills discounted Cr Interest and discount None of these Dr Rebate on bills discounted Cr Bills discounted

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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Q20

The Journal entry to record the closing rebate on bills discounted is given by
Cr Rebate on bills discounted Dr Interest and discount
Dr Rebate on bills discounted Cr Interest and discount
None of these
Dr Rebate on bills discounted Cr Bills discounted

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