Discounted Bills Receivable Dishonoured

  1. Obtain the schedule of discounted bills receivable dishonoured.
  2.  Check the entry in bank statement regarding the amount of bills dishonoured and see that the bank has debited the account of client.
  3. Verify the bills receivable returned the bank alongwith bank’s advice.
  4. See that the dishonoured bills have been noted and protested following the proper procedure and the account of the drawee or the debtor is also debited.
  5. Check that bank commission, if any, charged the bank has been recovered from the party.
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