Question

Discounted a B/E of Rs.2,000 with bank at a
discount of 2%.

In casebook​

Answer 1

Answer:

Bank A/c. Dr. 1960

Discount A/c. Dr. 40

To B/R a/c. 2000

Explanation:

here the bill of exchange is discounted with bank for to percentage the amount of bills receivable is 2000 and hence the discount is 40 rupees so the drawer will get this 1960 .

while discounting the cash in bank increases and the b/r decreases....