Question

Q.4. Raja of Nagpur draws a bill on Pradhan of Bhandara for 6,000 at 3 months. Pradhan accepted and [10]
returned it to Raja Raja then sent the bill to bank for collection.
On due date, Pradhan finds himself unable to make payment of the bill and requests Raja to renew it. Raja
accepted a proposal on the condition that, Pradhan should pay 1,000 on account along with interest 250 in cash and
should accept new bill for the balance at 2 months. These arrangements were carried through.
Afterwards, one month before due date of new bill Pradhan retired his acceptance by paying 4,850.
Give Journal entries in the books of Raja of Nagpur.​

Answer 1

Answer:

Afterwards, one month before due date of new bill Pradhan retired his acceptance by paying 4,850.

Give Journal entries in the books of Raja of Nagpur.

:D