CBSE Class 11-commerce Answered
on 1st march 2018 ,A sold goods to B WORTH rs 1600 and drew him a bill for 3 months.on 1st april,2018 A discounted the bill with his banker at 6%.on due date B failed to pay his acceptance and A HAD TO TAKE it up. B then paid rs 700 and requested A TO DREAW A FRESH bill for the amount plus rs 20 as interest.Aagreed to this arrangement. Before the due date of the bill B becomes insolvent and a dividend of 30 paise in a rupee was received from his estate.give journal enteries to record the above transactions in the book of A and B.
Asked by prasadmanisha652 | 12 Sep, 2019, 11:20: AM
Expert Answer
The question asked is from the chapter Bills of Exchange. Complete solution along with the workings are provided on our website at the below mentioned link:
Detailed explanation provided will help you solve all similar problems.
Answered by Surabhi Gawade | 12 Sep, 2019, 12:53: PM
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