A bill of exchange of Rs 4000(due after one month) discounted from bank for Rs 3,800 (write the entry for - Accountancy - Goods and Services Tax (GST)

Question

A bill of exchange of Rs 4000(due after one month) discounted from
bank for Rs 3,800 (write the entry for this transaction)

Arvind · Answer

Bank a/c dr 3800 Discounted charges a/c dr 200 To bills receiveable
a/c 4000 (Being the a bill of exchange of 4000 discounted from bank
for 3800 )

A bill of exchange of Rs 4000(due after one month) discounted from bank for Rs 3,800.(write the entry for this transaction)