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. On 1st January 2020 Subod …

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. On 1st January 2020 Subod sold goods to Shaheb for Rs. 30000. Shaheb paid Rs.6000 in cash and for the balance accepts three bills – No. 1 for Rs. 7000 at one month, No. 2 for Rs. 8000 at two months and No. 3 for Rs. 9000 at 3 months. .On 16th January Subod endorse 1st bill to Nahar, his creditor in full settlement of Rs. 7100, discounts the 2nd bill at his bank for Rs. 7920 and retained the third bill till maturity..All the bills are dishonoured and Rs. 500 being paid as noting charges.. Give journal entries in the books of subod and Shaheb.

Posted by Sukhmanpreet Singh 3 years, 9 months ago

CBSE > Class 11 > Accountancy

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