Calculate the due date of a bill of exchange written on 13 July, 2016 for 30 days.
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13 july ,2016 +30 days =13 August +3 days of grace =16 August, 2016 ANS.
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15 August 2016
At times, when the buyer is not able to pay the amount of the transaction right at the moment of sales, a bill is drawn by the seller on the buyer. It gives the buyer a credit period and ensures a specific date when the buyer has to pay the amount. This specific date when the buyer is due to pay the amount is the due date for the bill. For finding the due date, we will add the time given for the bill and add an excess period of 3 days. The due date of the bill written on 13 July 2016 for 30 days will be 13 July 2016 + 30 days + 3 days = 15 August 2016.
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