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Question
When a bill deposited for collection by the drawer in his bank is dishonoured, drawer has to credit _____________ A/c.
When a bill deposited for collection by the drawer in his bank is dishonoured, drawer has to credit _____________ A/c.
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Solution
The correct option is C Bank for collection
When Bill sent for collection is Dishonored amount receivable from the Bank is cancelled hence Bank for Collection A/c is Credited.
When Bill sent for collection is Dishonored amount receivable from the Bank is cancelled hence Bank for Collection A/c is Credited.
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