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B.g. invocation

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Querist : Anonymous

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Querist : Anonymous (Querist)
24 April 2013 What will be the accounting entry when B.G. has been invocated by the party and bank has paid the B.G. amount.

Bank has adjusted the B.G. amount by pre mature of F.D. laying with bank as security
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CMA Ramesh Krishnan

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CMA Ramesh Krishnan (Expert)
06 August 2013 What is the reason for invocation?. in case any damage claim, need to debit loss and credit BG

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