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On 1 Jan 2012 julie supplied …

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On 1 Jan 2012 julie supplied goods to vikram of value ₹9000 and settle account by means of 3 bills of ₹3000 each due after 2 ,3,4 months resp. A week later julie discounted the first bill at a discount of ₹60 . The other two bills were held till maturity. The first two bills were duely met on maturity. On the maturity of third bill, however vikram arranged to retire the bill paying ₹ 1000 in cash and giving julie a fresh bill for four months to cover the balance together with 12%per annum. Julie discounted this bill for ₹2000. The bill was met on maturity.

    • Posted by Ishant Agarwal 8 years, 5 months ago

    CBSE > Class 11 > Accountancy
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