Question

Bengal Traders purchased goods from Bombay Traders valued * 6,000 on 1st January, 2015. They accepted a bill of exchange for the same amount for 3 months in favour of Bombay Traders on 3rd January , 2015. Bombay Traders endorsed the bill to his creditor Manubhai Patel in full settlement of a debt of 3 6,100. Manubhai Patel discounted the bill at his bankers at 5% p,a, on 3rd February, p, 2015. On the due date the bill was dishonoured and the banker charged a Noting expense of 7 50, a Shcw Journal entries in the books of Bengal Traders, Bombay Traders and Manubhai Patel recording the above transactions.​

Answer 1

Answer:

Calculate the due dates of the bills in the following cases:

Date of the Bills Period

I. 1st February, 2017 2 months

II. 31st January, 2017 3 months

III. 30th September, 2017 2 months

IV. 30th September, 2017 3 months

V. 29th December, 2017 2 months

VI. 31st December, 2017 2 months

VII. 15th July, 2017 30 days

VIII 27th January, 2016 1 month