Question

Ananya sold goods worth ₹60 000 to Lakshita on 1 st A pril 2020 and immediately drew 2 bills of ₹20 000 and 730 000 payable after 3 monthe and 5 months respectively The first bill was retained till maturity and the aecond bill was diacounted with the bankers on 4 th May 2020 @ 12% p.a.The first bill was honoured on due date but the second bill was dishonoured and noting charges 7500 were paid.After 10 days Lakshita paid the whole amount to Ananya by cheque which was deposited in the bank on the same day.Prepare journal entries in the books of Ananya.​

Answer 1

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Explanation:

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