Reserve for discount on debtors is :
ADebited to P and L Account
BCredited to P and L Account
CCredited to Trading Account
DDebited to Trading Account
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Related Questions:
Assets acquired for long term operations of a business ?
_________ expenditure yield benefit for a number of years
Difference between current assets and current liability is :
Such portion of the reserve fund, other funds paid up share capital, loans and deposits received by a society and debentures issued by a society as have not been invested in building and other fixed assets is called.
The uncalled portion of share capital set apart to be called only at the time of liquidation