Question

A sold goods to B for Rs.500 on 1st January, 2019 and draws a bill on same date for two months. The bill was duly accepted by B and it was duly met on due date. Show entries in books of A, B and C under each case:

i. If A retain the bill till due date.

ii. If A discounts the same with banker paying Rs.5 for discount on 4th February 2019.
Date of Drawing Bill Period
a) June 12,2010
b) July 29,2010
c) August 10,2008 d) December 27,2007
e) July 13,2009 2 Months 2 Months 2 Months 2 Months 30 Days


iii. If A endorses it to creditor C in full settlement of Rs.520 on 4th February 2019. iv. If A sends the bill to his banker for collection on 4th February 2019.

Answer 1

Answer:

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