Question

A sold goods to B for ` 60,000 on 28 Jan 2016 and draws upon him three bills of ` 30,000, ` 20,000 and ` 10,000 for

1, 2 & 3 months respectively, which was duly accepted by B on 1 Feb. 2016. First bill was retain by A, while second

bill was discounted with the bank @ 15% p.a. and third bill was endorced to his credior X in full settlement of 10,500.

All the bills were paid by B on due date. Give journal entries in the books of A and B.​

Answer 1

Answer:

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Explanation:

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