Question

segal owed 3000 to gill. on 15th july 2017 he accepted a bill for 3000 for one month drawn by gill in full setelment of his debt on 18 joly 2017 gill endores the bill to his creditor chander the bill was duly met on the date of maturity pass journal entries in the book of drawee and endorse​

Answer 1

           In the books of Segal

15.07.2017    Gill A/c       Dr         3000

                        To  Bills payable A/c     3000

18.08.2017      Bills payable A/c  Dr       3000

                              To bank A/c                     3000

                     In the books of Chander

18.07.2017     Bills Receivable A/C      Dr        3000

                               To Gill A/C                              3000

18.08.2017     Cash A/C             Dr                   3000

                             To Bills Receivable A/C            3000

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Hope this helps u !!!