Accounting treatment for lc and bank guarantee in books

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sushanthkota (Querist)
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31 August 2012 Accounting Treatment for LC and Bank Guarantee in books of Private Limited Company?
Kindly briefly explain with journal entries?

CA AYUSH AGRAWAL (Expert)
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31 August 2012 If LC Given:-

Creditors Dr
to Bank account.

When U pay to Bank:-
Bank dr.
to Cash

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