Question

(34) Akbar owed to Babar 6,000. Akbar accepted the bill drawn by Babar for the amount at 4 months. Bat
6discounted the bill with his bank for 5,850. Before the due date Akbar approached Babar with the request
renewal of the bill. Babar agreed on the conditions that ? 4,000/- be paid immediately in cash together w
interest on remaining amount at 12% p.a. for 3 months and for the balance Akbar should accept new bil at
months. These arrangements were carried through. Babar endorsed the bill to Kadar. Akbar met the bill on t
due date.
and Baba
uRecord the above transactions in the journal books of Akbar. Prepare Akbar's account in the ledger
A Babar.

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Answer 1

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HERE IS UR ANSWER

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transactions in the Journal Book of Akbar. Prepare Akbar’s Account in the

ledger of Babar are in the attachment.