Question

recorded in Kurchases book,
X Sold goods to y for Z 10,000 on 15th
March 2017 on the same day y accepted
o bill drawn upon him by x at tour
months for I 10000 X discounted the
bill on 15th April 2017 at 18% P. a at
his book and y met to bill on Matwiite
make. Journal entries in the books &
both the parties.​

Answer 1

Explanation:

Suppose your father has just come from work and you offer him a glass of juice.The first glass of iuice will aive him great satisfaction.The satisfaction with the second glass of juice will be relatively lesser With further consumption, a stage will come, when he would not need any more glass of juice, ie.when the marginal utility drops to zero.After that point, if he is forced to consume even one more glass of luice, it will lead to disutility Such a decrease in satisfaction with consumption of successive units occurs due to Law of diminishing marginal utility