Accounting

Time left 0:11:49 On June 15, Arab Bank approved to open an L/C account for one of its client's with the amount of JD 200000. The bank deducted from the client's current account : 25% of the L/C value as a coverage and 1% as a commission. It transferred the amount of the coverage to the correspondent bank (Bank of America) through the central bank. The entry of taking the coverage and commissions from the client includes: Select one: O a. Dr. Client's current A/C 202000 Cr. Cash coverage 200000 Cr. commission revenue 2000 O b. Dr. Client's Commitments 50000 Cr. Bank's commitments 50000 O c. Dr. Bank of America -L/Cs 50000 Cr. Central bank 50000 O d. Dr. Client's current A/C 52000 Cr. Cash coverage 50000 Cr. commission revenue 2000