Accountancy, asked by rahulkamra001, 10 months ago

(PAST EXAMINATIONS QUESTIONS)
18 On 1" January 2018, Akshay draws two bills of exchange for Rs. 16,000 and Rs. 25,000. The bill of exchange
for Rs.16,000 is for two months while the bill of exchange for Rs. 25,000 is for three months. These bills are
accepted by Vishal. On 4th March, 2018,
Vishal requests Akshay to renew the first bill with interest @ 15% p.a. for a period of two months. Akshay
agreed to this proposal. On 25th March, 2018, Vishal retires the acceptance for Rs. 25,000 the interest rebate
1.e. discount being Rs. 250. Before the due date of the renewed bill, Vishal becomes insolvent and only 50 paisa
in a rupee could be recovered from his estate.Show the Journal Entries (with narrations) in the books of
Akshay.
(MAY 19,5 Marks)

Answers

Answered by sreedevgireesh0704

Answer:

the acceptance for Rs. 25,000 the interest rebate out gross profit from the following data:

विक्रय (Sales)

Answered by madeducators11

Explanation:

Pls check the attached document below:

Attachments:

Previous Question

Next Question