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What entry is passed in our books

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(Querist)
28 September 2011 DEAR EXPERTS

PLZ TELL ME WE HAVE SUPPLIED THE GOODS TO PARTY "A" & SIDBI GIVE US PAYMENT ON BEHALF OF PARTY "A" AFTER DEDUCTING THE 1%MONTHLY INTEREST (TERMS 90DAYS).

WHAT ENTRY IS PASSED IN OUR BOOKS
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CA Pushpendra Gaur

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CA Pushpendra Gaur (Expert)
28 September 2011 The enry be
Bank A/c DR 99
Late Delivery Interset DR 1
To Party A or SIDBI(in whose name invoice was raised
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CA Siddhartha Bhardwaj

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CA Siddhartha Bhardwaj (Expert)
28 September 2011 I feel this is a case of bills discounting.

The entry will be:

Bank A/c Dr 99
Bank Charges Dr 1
To Mr. A 100
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ACMA Obulirajan R

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ACMA Obulirajan R (Expert)
28 September 2011 I agree with Mr.Siddhartha

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