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On 1st April, 2006, B accepts …

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On 1st April, 2006, B accepts a bill drawn by A at three months for Rs.8,000 in payment of debt. On the due date the acceptance is dishonoured and A gets the bill noted paying Rs.100. On 4th July, 2006 A draws a new bill payable after 73 days provided interest is paid in cash @ 15% p.a. To this B is agreeable. The bill is met on maturity. Record the transactions in books of both A and B.

Posted by Sudhir Wadhawan 8 years, 1 month ago

CBSE > Class 11 > Accountancy

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