calculate due date of bill 1st January 2018 for 3 month
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Answer:
1st January 2018 = 4th April 2018
Explanation :
For calculating due date,
there are some notes while Calculating due date
First, note the time period for bill drawn here that is 3 months ( April ) and
Note the 3 days of grace. ( April 4th )
So, the due date becomes April 4th 2018.
Date of Maturity :
Maturity date or due date of a bill of exchange is the date on which a bill of exchange become payable. While Calculating the date of Maturity, 3 extra days called Grace days are added to the period of the bill.
If the due date falls on a public holiday the bill will be payable on the Preceeding Working day. If it is declared holiday it is to be paid on the next working day.
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