Rebate On Bills Discounted Discounted bills are invoices or statements for which a rebate or refund is given as a deduction from the original bill amount in the context of rebates It denotes that clients eligible for a rebate will get a partial or complete discount on their payment
But this amount of discount is meant for March April and May As accounts are prepared on 31st March each year discount received for 61 days 30 31 for April and May is not actually earned Thus discount of 61 days i e Rs This video is based on the Concept of Rebate on Bills Discounted from the chapter Account for Banking Company
Rebate On Bills Discounted
Rebate On Bills Discounted
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REBATE ON BILL DISCOUNTED Eg YouTube
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Bank Accounts Rebate On Bills Discounted Part 1 YouTube
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The discount will be a reduction in the total bill amount and the buyer will have to pay less at the check out Example A customer will pay 900 for an item worth 1 000 and 950 for a breakfast cereal priced at 1 000 The above strategy is a simple trade discount strategy This is the second video in Banking Company Accounts of Corporate Accounting II In this video meaning of Rebate on Bills Discounted is explained clearly
The drawer may discount the bill with the bank before the due date The bank charges discounting charges from the drawer at a certain rate Thus at the time of discounting the bank deposits the net amount after charging such amount of discount in the account of the holder of the bill In the present video the concept of Rebate on Bills Discounted is explained with the help of two solved illustrations
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Q 4 What is the repayment period in case of bill discounting Ans The repayment period is equal to the credit period allowed by the buyer to the seller Q 5 How is the interest calculated on discounted bills The rebate on bills discounted is calculated by finding the difference between the face value of the bill and the amount of discount charged by the bank For example if a bill of 10 000 is discounted by a bank at a rate of 10 the customer will receive 9 000
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Rebate On Bills Discounted Problem 2 YouTube
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Discounted bills are invoices or statements for which a rebate or refund is given as a deduction from the original bill amount in the context of rebates It denotes that clients eligible for a rebate will get a partial or complete discount on their payment
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But this amount of discount is meant for March April and May As accounts are prepared on 31st March each year discount received for 61 days 30 31 for April and May is not actually earned Thus discount of 61 days i e Rs
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