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Bill of exchange in TRM

Dear Experts,

My customer has the below cycle.

If for example the company made a contract with the bank for loan (Interest rate instrument - 55A) with 1,000,000 for 5 years and the interest for the whole contract is 200,000.

The bank then make the customer sign a bill of exchange for the whole amount 1,200,000.

How to record that on the G/l level if the TBB1 transaction only book the below entry at the beginning of the contract

Dr. Bank                               1,000,000

Cr. Notes payable - Loan          1,000,000

Regards,

Ahmed Samir

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1 Answer

  • Oct 27, 2015 at 02:08 AM

    Hi Samir,

    Please refer below screenshot for your reference.

    Just select interest rate for fixed amount 200,000. Rest of the process stand the same.

    I hope i understood you correctly.

    Regards,

    Jain


    Tbb1.JPG (67.5 kB)
    Tbb2.JPG (48.7 kB)
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