CBSE Class 11-commerce Answered
Calculate the due dates of the following instruments:
A bill of exchange, dated 12th June 2015; payable 2 months after date.
A promissory note, dated 31st July 2016; payable 45 days after date.
Asked by Topperlearning User | 11 Aug, 2016, 10:03: AM
Expert Answer
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2 months after 12th June, 2015 is 12th August 2015.
Adding 3 days of grace gives the due date as 15th August 2015.
15th August is a public holiday. Thus, the bill will become due on 14th August 2015.
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45 days after 31st July, 2016 is 14th September, 2016.
1st Aug - 31st Aug
31 days
1st Sept - 14th Sept
14 days
Total
45 days
Adding 3 days of grace gives us the due date of 17th September, 2016.
Answered by | 11 Aug, 2016, 12:03: PM
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