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📖 generic · CBSE Class 11 English medium · ACCOUNTANCY · Page 21example

drawer and drawee are given below:

Chapter 8: Bill of Exchange · ACCOUNTANCY

drawer and drawee are given below: Transaction Books of Drawer Books of Drawee Cancellation of old bill Drawee’s A/c Bills Payable A/c To Drawer’s A/c Interest Drawee’s A/c Interest A/c To Interest A/c To Drawer’s A/c New bill Bill Receivable A/c Drawer’s A/c To Drawee’s A/c To Bills Payable A/c For example on February , Ravi sold goods to Mohan for Rs. , ;

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oods can be sold or bought for cash or on→credit. When goods are sold or bought for→cash, payment is received immediately. On the→other hand, when goods are sold/bought on credit→the payment is deferred to a future date. In such a→

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