Accountancy, asked by suhanaaggarwal9, 1 year ago

38. Ajay purchased goods from Vijay for 2,000 on 1st January, 2013. He accepted a bill of exchange for the amount at 2 months drawn on him by Vijay on the same day. On 4th Jan, 2013, Vijay got the bill discounted with his bank at 18% p.a. At maturity the bill was dishonoured, noting charges amounting to Rs. 15. However, Vijay agreed to receive a sum of 575 from Ajay in cash and two bills of exchanges-one at one months for 500 and the other at 3 months for 1,000 in full settlement. The first bill of exchange was duly honoured but the second bill of exchange was dishonoured. Give journal entries in the books of Vijay.

Answers

Answered by muskanjangde861
0

Answer:

see the attachment

mark as brainliest if helpful

Attachments:
Similar questions