PDC deposited against cc a/c

Nitil Kr. Agarwala (Persuing CS) (264 Points)

16 November 2011  

Dear All,

             My firm opened a cash credit account with Axis Bank Ltd. Against the Loan the bank asked us to deposit the Post dated cheque equivalent to the sanctioned loan amount with them. We deposit a Post Dated Cheque from Punjab National Bank to them. 

           Now i am confused, what necessary entries to be passed so that the same may reflect in my books.

           Kindly Guide me on Urgent Basis.

 

Thanking You,

 

With Regards,

Nitil Agarwala