Question

Mr Anil sold goods to Sunil for 5000 on credit and drew a bill for 3 months . Sunil accepted the bill and returned. On due date bill was dishonoured ,noting charge being 100 . Show journal entries in the book of Anil and Sunil

a] bill was retained by Anil
b] bill was endorsed to Hari
c] bill was dishonoured with bank for 4800
d] bill was sent to bank fo collection

Answer 1

Answer:

c. bill was dishonored with bank for 4800