Question

Give Journal entries for the following:
(a) Our acceptance of 5,000 to A dishonoured this day, noting charges 100 being paid by the holder
in due course by C.
(b) We take up A's acceptance of 10,000 dishonoured by him; and pay the amount to B, the holder, with
noting charges 100.

Answer 1

Explanation:

b) We take up A's acceptance of 10,000 dishonoured by him; and pay the amount to B, the holder, with

noting charges 100.