IndigoLearn

Forums

Back

Rebate on bills discounted

Accountancy

In Illustration 4, how the due date is being calculated? Because for example, the 1st bill date is 15/10 and the period of bill is 5 months, then the due date should be 15/03 but why it is given as 18/03?

Nivedha Balaji

CA Final

★ 9K+

05-May-23 11:46

987

Answers (5)

Because 3days of grace

Paras Doshi

CA Inter

★ 3K+

05-May-23 11:48

In that due date we need to add 3 days of grace . To arrive at maturity date

Balachandar S

CA Inter

★ 59K+

05-May-23 12:16

If due date is already given in question, we can take that itself but if we calculate the due date then we have to add 3 more days. Am I correct?

Thread Starter

Nivedha Balaji

CA Final

★ 9K+

05-May-23 12:18

Thread Starter

Nivedha Balaji

If due date is already given in question, we can take that itself but if we calculate the due date then we have to add 3 more days. Am I correct?

See If the question specifically given the due date means then don't add any grace of 3 days. But In this question they are specifically given *date of bill* so u have to calculate due date +3days of grace Gir my point

Balachandar S

CA Inter

★ 59K+

05-May-23 12:23

Balachandar S

Thank you..

Thread Starter

Nivedha Balaji

CA Final

★ 9K+

05-May-23 12:29