Question

On 1st Feb., 2018, P sold goods to Q valuing *1,50,000. On 4th Feb., 2018 P
received from Q 90,000 and drew a bill payable 2 months after date for the
balance. On the same date P endorsed the accepted bill to R in full settlement of
a debt of 61,000. On the due date the bill was dishonoured and having
become insolvent met 70% of his acceptance.
12
Give Journal entries in the books of P and Q. Please try to solve this question a humble request​

Answer 1

Answer:

30000

Explanation: