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Is anyone having most difficult question of Bills of exchange???
  • 3 answers

Aditi Maurya 5 years, 10 months ago

Drawee A/c Dr To bill sent for collection A/c To cash ( noting charges) A/c

Incredible Suri 5 years, 10 months ago

Collection*

Incredible Suri 5 years, 10 months ago

X retains a B/R ($1000) till due date and on due date he sends the bill to the banker for collectio ;the bill was Dishonored,noting charges $5. Pass necessary journal entries.
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