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At the time of issuance of BG
Dr : Constituent's Liability for BGs issued
Cr : Acceptance, Endorsement & Other Obligations - Bank Guarantees
and at the time of cancellation / closure of BG from the books
Dr : Acceptance, Endorsement & Other Obligations - Bank Guarantees
Cr : Constituent's Liability for BGs issued
What else can I help you with?
What is the journal entry for deposit to bank account for beginning a business?
Journal entry for opening a bank account
What is the journal entry for withdrawal from bank?
Debit cashCredit bank
What will be the journal entry when interest allowed by the bank?
interest allowed by bank
What is journal entry of paid into bank?
bank a/c to cash a/c
What is the journal entry if bank pay the amount to vendor on behalf of the company?
No entry at the time of payment by bank and entry is recorded when bank reconciliation with bank and information arrive from bank.
What is the journal entry for withdrew capital from bank?
Debit owner capitalCredit bank
What will be journal entry if a bank gives loan?
bank a/c dr to bank loan a/c
What is journal entry of bank overdraft?
Debit cash / bankCredit loan from bank / bank overdraft
What is journal entry for bonus?
Debit bonusCredit cash / bank
How do you journal entry of payroll?
Debit payrollCredit cash / bank
What is the journal entry for cash at bank?
debit bankcredit cash
What is the journal entry for billed?
Debit expensesCredit cash / bank
