Ram sold goods to sham on 10th feb for rupees 8000 on the same date sham accepted a bill drawn by ram for 3 months Ram discounted it with bank immediately @12%p.a. ondue date bill is honoured by sham
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Feb-10 Ram Dr 8000
To sham 8000
Feb-10. B/R a/c Dr. 8000
to sham. 8000
Feb-10. bank a/c Dr 7760
Discount a/c Dr 240
To B/R. a/c. 8000
May-13. No entry in the books of darawr
entry of draee is
B/P a/c. 8000
To cash or bank a/c 8000
To sham 8000
Feb-10. B/R a/c Dr. 8000
to sham. 8000
Feb-10. bank a/c Dr 7760
Discount a/c Dr 240
To B/R. a/c. 8000
May-13. No entry in the books of darawr
entry of draee is
B/P a/c. 8000
To cash or bank a/c 8000
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