Question

Raja sold goods to Rani for $80,460.Rani paid $43,640 in
cash and accepted Raja’s bill for the balance amount payable
after 4 months. After a month Raja discounted the bill with his
bank at 10% p.a.On due date ,Rani dishonoured the bill. Rani
paid $17,000 to Raja and accepted a fresh new bill for the
balance for 3 months including the intrest @12% p.a. Raja sent
the bill to bank for collection. On due date Rani honoured the
bill. PASS JOURNAL ENTRIES IN BOOKS OF RAJA.

Answer 1

Answer:

after 4 months. After a month Raja discounted the bill with his bank at 10% p.a.On due date ,Rani dishonoured the bill.

Explanation:

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