calculate the data of maturity of the bill of exchange drawn by hamida on 29 may 2017 dose 4 month ?
Answers
Answer:
1 Octuber (2 octuber public holiday
Explanation:
1 Octuber
Answer:
Explanation:
To Find date of maturity
Due Date of Bill = Date of bill drawn + Period + Grace Days
Bill Drawn on = 29 May 2017
Period = 4 months
29 may = 3 days of May month
June = 30 days of June
July = 31 days of July
August = 30 days of August
September= 28th of September
Period will complete on 28th September
It is the time period between the date on which a bill is drawn and the date on which it is payable. It is the date on which the payment of the bill is due. These are the three extra days added to the period of bill. The date which comes after adding three days of grace to the period of bill.
Grace period = 1 days + 3 days
1 public holidays = 15 August
2 October is the date of maturity , but 2nd October is public holiday. So the date of maturity is 3rd October.