Sumit draws on Amit three Bills of Exchange for Rs. 5,000; Rs. 4,000 and Rs. 3,000
respectively for goods sold to himon 1st February, 2020. These bills were for One month,
two months and three months respectively. The first bill was endorsed to his creditor Nikhil.
The second bill was discounted @12% p.a. with bank on 4th February, 2020 and the third bill
was sent to bank for collection on 30th April, 2020. On the due dates , all yhr bill were duly
met by Amit. The bank sent the collection advice for the third bill after deducting Rs. 25 as
collection charges.
Pass the Journal entries in the books of Amit.
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it is very long ans so sorry
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