of Parvati and Shankar. . Vishal sold goods for Rs. , to Manju on Jan , and drew upon her a bill of exchange payable after months.
Manju accepted Vishal’s draft and handed over the same to Vishal after acceptance. Vishal immediately discounted the bill with his bank@ % p.a. On the due date Manju met her acceptance. Journalise the above transactions in the books of Vishal and Manju.
. On Feb , , John purchased goods for Rs. , from Jimmi. He immediately made a payment of Rs.
, by cheque and for the balance accepted the bill of exchange drawn upon him by Jimmi. The bill of exchange was payable after days. Five days before the maturity of the bill, Jimmi sent the same to his bank for collection. The bank duly presented the bill to John on the due date who met the bill.
The bank informed the same to Jimmi. Prepare John’s account in the books of Jimmi and Jimmi account in the books of John. . On Jan , , Kartar Sold goods for Rs.
, to Bhagwan and drew upon him three bills of exchanges of Rs. , each payable after one month, two month, and three months respectively. The first bill was retained by Kartar till its maturity. The second bill was endorsed by him in favour of his creditor Ratna and the third bill was discounted by him immediately @ % p.a.
All the bills were met by Bhagwan. Journalise the above transactions in the books of Kartar and Bhagwan. Also prepare ledger accounts in books of Kartar and Bhagwan. .
On Jan. , Arun sold goods for Rs. , to Sunil. % of the payment was made immediately by Sunil on which Arun allowed a cash discount of %.
For the balance Sunil drew a promissory note in favour of Arun payable after days. Since, the date of maturity of bill was a public holiday, Arun presented the bill on a day, as per the provisions of Negotiable Instrument Act which was met by Sunil. State the date on which the bill