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A promissory note is drawn byin favour o...

A promissory note is drawn by_____in favour of his___.

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Promissor
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Dev owes ₹ 10,000 to Krishan. On 1st May, 2019 he sent his promissory Note for the amount payable, after 3 months. On 1st june , 2019, Krishan endorses the promissory Note is favour of Wahid to whom he owed the like amount. On the due date, Dev paid the amount. pass the journal entries in the books of Krishan , Dev and Wahid.

On Jan 01, 2016, Shankar purchased goods from Parvati for Rs 8,000 and immediately drew a promissory note in favour of Parvati payable after 3 months. On the date of maturity of the promissory note, the Government of India declared holiday under the Negotiable Instrument Act 1881. Since, Parvati was unaware about the provision of the law regarding the date of maturity of the bill, she handed over the bill to her lawyer, who duly presented the bill and received the payment. The amount of the bill was handed over by the lawyer to Parvati immediately. Recore the necessary Journal entries in the books of Parvati and Shankar.

K Ltd. took over the assets of Rs. 15,00,000 and liabilities of Rs. 5,00,000 of P Ltd. for a purchase consideration of Rs. 13,68,500. Rs. 25,500 were paid by issuing a promissory note in favour of P Ltd. payable after two months and the balance was paid by issue of equity shares of Rs. 100 each at a premium of 25%. Pass necessary Journal entries for the above transactions in the books of K Ltd.