The analogy here is like this: Veeru has 20 lt of petrol and he uses 1 lt per each day and consumes it in 20 days. If he uses 1.25 lt every day, in how many days it will be consumed?
We considered 1.25 lt here because it?s 25% more than 1 lt.
The answer would be 20/1.25=16 days.
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Ujjivan Small Finance Bank Ltd, a wholly-owned subsidiary of Ujjivan Financial Services Ltd, has been given scheduled bank status by RBI.
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The journal entry to record a credit sale is Accounts Receivable. Credit sale is nothing butthe customers pay at the time of buying.
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Among the first banks were the Bank of Hindustan, which was established in 1770 and liquidated in 1829-32.
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