Question

32
A drew upon B a bill for Rs. 60,000 at 2 months and B returned the bill duly
accepted on 15 January, 2019. A discounted the bill with bank @ 15% p.a. Before
the bill was due for payment, B informed A that he was not able to pay the full
amount and requested A to accept Rs.20,000 immediately and drew upon him
another bill for the balance amount for 2 months along with interest @ 18% p.a. A
agreed. The second bill was duly met. Give Journal entries in the books of A.
please answer m fast ​

Answer 1

Explanation:

$\huge{\underline{\sf{\orange{Answer -}}}}$

$let \: the \: whole \: quantity \: = x$

$A/Q$

$5\% \: of \: x = 600 \\ \\ = > \frac{5 \times x}{100} = 600 \\ \\ \\= > 5 \times x = 600 \times 100 \\ \\ \\ \ \: = > x = \frac{600 \times 100}{5} \\ \\ \: \\ = > x = \frac{120 \times 100}{1} \: \\ \\ x = 12000$

Therefore, The whole quantity = 12000