Question

Illustration 24 (When the Bill is Retired Under Rebate). On 1st January, 2018,
A sold goods to B for 10,000 and drew upon him a bill at 3 months for the
amount. B accepted the bill and returned it to A. On 4th March, 2018, B retired
the bill under rebate of 6% p.a. Record these transactions in the Journal of
A and B.​

Answer 1

Answer:

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Illustration 24 (When the Bill is Retired Under Rebate). On 1st January, 2018,

A sold goods to B for 10,000 and drew upon him a bill at 3 months for the

amount. B accepted the bill and returned it to A. On 4th March, 2018, B retired

the bill under rebate of 6% p.a. Record these transactions in the Journal of

A and B.