Question

On 1st October,2021 X sells goods to Y for Rs.25000 plus IGST @18% and draws a bill for 90 days. Y accepts and returns the bill to X. The bill is sent to bank for collection. In due course, X receives the information from the bank that the bill has been duly met. On the basis of above information answer the following questionsa) Identify the payee. b) What is the maturity date of the bill drawn? c) Explain the term ‘bill sent for collection’​

Answer 1

Answer:

1st October 2021 is your