Question

Q.- 4. Mr A owed Rs. 4,000 on 1st January, 2016 to Mr X. The following transactions took place between them. It is
agreed between the parties that interest @10% p.a. is to be calculated on all transactions.
15 January, 2016 Mr X sold goods to Mr A
29 January, 2016 Mr X bought goods from Mr A
1,200
10 February, 2016 Mr A paid cash to Mr X
1,000
13 March 2016 Mr A accepted a bill drawn by Mr X for one Month 2,000
They agree to settle their complete accounts by one single payment on 15th March 2016. Prepare Mr A in Account
Currenhvith Mr X and ascertain the amount to be paid. Ignore days of grace.​

Answer 1

Answer:

Explanation:

here you go. these to pictures come after one another. In the top its written:

In the books of Mr.X

Mr.A in account current with Mr.X