Question

5. Nisha sold good to Asha worth 34,000, Asha paid * 10,000 immediately
and accepted the bill for the balance * 24,000 at 2 months. Nisha
discounted the bill with Bank of Maharashtra after one month at 15%
p.a. The bill was dishonoured on the due date and Asha requested
Nisha to accept * 4,000 and interest in cash on remaining amount at
11% p.a. for 3 months. Nisha agreed and for the balance. Asha accepted
a new bill at 3 months. But Asha became insolvent and only 40%
could be recovered her estate.
Prepare Journal of Nisha.
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Answer 1

Answer:

Prepare Journal of Nisha.

Nisha sold good to Asha worth 34,000, Asha paid 10,000 immediately and

accepted the bill for the balance 24,000 at 2 months. Nisha discounted the bill with Bank

of Maharashtra after one month at 15% p. a. The bill was dishonoured on the due date and

Asha requested Nisha to accept 4,000 and interest in cash on remaining amount at 11%

p.a. for 3 months. Nisha agreed and for the balance Asha accepted a new bill at 3 months.

But Asha became insolvent and only 40% could be recovered her estate.

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Answer 2

Answer:

Answer for this question is given on textbook page no.287