The following accounts are extracted from trial balance of Konark Bank Ltd. on 31 March 2011:
|
Interest and |
– |
52,26,000 |
|
Discounted |
||
|
Rebate on Bills |
– |
37,500 |
|
Discounted |
||
|
Bills Discounted |
15,36,000 |
– |
|
and Purchased |
It is ascertained that proportionate discount not earned on the balance of bills discounted, which will mature in 2011–12 amounts to Rs.68,100. Pass the necessary adjustment entries.