Question

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of both parties.
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Dishonour of Bill
25. Hema owes 18,000 to Lata on 1st January, 2018 for which Hema accepts a 3 months bill
drawn by Lata. On the due date, the bill is dishonoured by Hema.
Pass the necessary journal entries in the books of both the parties in the following cases :
(a) The bill is retained by Lata till due date
(b) The bill is discounted from bank for 17,200.
(c) The bill is endorsed to Pushpa.
(d) The bill is sent to Yes Bank for collection.
pucu the bill and returned it to Dada. On 4th March 2019,
Bhai retired the bill under rebate of 6% per annum. Record the transactions in the journals​

Answer 1

Explanation:

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