Question

Suppose the Wayanad district Panchayat wants to study the literacy of tribal population in
the district. Which method would you suggest for data collection? Why? Give a popular
instance Is this method suitable in all cases? If not, what are the drawbacks?​

Answer 1

Answer:

on Ist January 2018, Akshay draws two bills of exchange for 16,000 and

The bill of exchange for 16,000 is for two months while the bill of exchange for 25,000

is for three months. These bills are accepted by Vishal, on 4th March, 2018, Vishal

requests Akshay to renew the first bill with interest at 15% p.a. for a period of two months.

Akshay agreed to this proposal, on 25th March, 2018, Vishal retires the acceptance for

25,000, the interest rebate i.e. discount being * 250. Before the due date of the renewed

bill, Vishal becomes insolvent and only so paisa in a rupee could be recovered from his

estate.

show the Journal Entries (with narrations) in the books of Akshay. (QP May 19)