Interest payable reverse account ( old)

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ANKIT (Querist)
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11 April 2014 what is int. payable reverse account (old) i see this in banks p&l account & want to know that when to opens it & why & accounting entries for itt...

Vishnu Saboo

Vishnu Saboo (Expert)
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12 April 2014 i believe in case of bill discounting this account is opened

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Interest payable reverse account ( old)

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