Question

discharged our acceptance to Pravin for 4250 by endorsing Bhavins acceptance to us by 4000​

Answer 1

Answer:

Discharged our acceptance to Pravin for Rs 4250 by endorsing Bhavin's acceptance to us for Rs 4000. 2) Jatin who had accepted Ashwin's bill of Rs 8500 was declared insolvent and only 40% of the amount due could be recovered from his estate.

Answer 2

Explanation:

Bill's Payable A/C Dr. 4240

To Bill's Receivable 4000

To Discount 250