a company recive 5 demand draft in different parties 2 DD
sumittted to bank for collection and it's collected.
what is the closing entry of other 3 DD in the company on
that date?
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Answer Posted / Damodar
For the remaining three Demand Drafts, if they have not been encashed or deposited by the recipient on the same date, the appropriate closing entry would be to record them as outstanding DDs on the company's books.
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