of Jan : Jan Drew on Babu at two months after date at full settlement for Rs. , . Babu accepted the bill and returned it on . .
. Jan. Babu’s bill discounted for Rs. , .
Jan. Chanderkala sent a promissory note for Rs. , payable three months after date. Jan.
Promissory note received from Chanderkala discounted for Rs. , . Jan. Accepted Sheiba draft for the amount due payable two months after date.
Jan. Anita sent his promissory note payable after two months. Jan. Anita’s promissory note endorsed in favour of Manju.
Jan. Accepted Anju’s draft payable after three months. Jan. Kiran sent Rs.
, in cash and a promissory note for the balance payable after three months. Record the above transactions in the proper subsidiary books. . On Jan.
, Harsh accepted a months bill for Rs. , drawn on him by tanu for latter’s benefit. Tanu discounted the bill on same day @ % p.a On the due date tanu sent a cheque to Harsh for honour the bill. Harsh duly honoured his acceptance.
Record the journal entries in the Books of Tanu and Harsh. . Ritesh and Naina were in need of funds temporarily. On August Ritesh drew upon Naina a bill for Rs.
, for months. Naina Accepted the bill and returned to Ritesh. Ritesh discounted the Bill @ % p.a. Half amount of the discounted bill remitted to Naina.
On due date, Ritesh sent the required sum to Naina, who met the bill. Journalise the transaction in the books of both the parties. . On Jan.
, , bhanu and Naman drew on each other a bill for Rs. , payable months after the due date for their Mutual benefit. On January they discounted with their bank each other’s bill at % p.a. on the due date each met his Own’s acceptance.
Give journal entry in the books of Bhanu and Naman. . On Nov. , Sonia drawn a bill on sunny for Rs.
, for months for mutual accommodation. Sunny accepts the