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On Jan 01, 2016 Neha sold goods for Rs...

On Jan 01, 2016 Neha sold goods for Rs 20,000 to Muskan and drew upon her a bill of exchange payable after two months. One month before the maturity of the bill Muskan approached Neha to accept the payment against the bill at a rebate @ 12% p.a. Neha agreed to the request of Muskan and Muskan retired the bill under the agreed rate of rebate. Journalise the above transaction in the books of Neha and Muskan.

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On Jan 01, 2016 Rao sold goods Rs 10,000 to Reddy. Half of the payment was made immediately and for the remaining half Rao drew a bill of exchange upon Reddy payable after 30 days. Reddy accepted the bill and returned it to Rao. On the due date Rao presented the bill to Reddy and received the payment. Journalise the above transactions in the books Rao and prepare of Rao’s account in the books of Reddy.

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NCERT-BILL OF EXCHANGE -Numerical Questions
  1. On Feb 01, 2016, John purchased goods for Rs 15,000 from Jimmi. He im...

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  2. On Jan 15, 2015, Kartar Sold goods for Rs 30,000 to Bhagwan and drew...

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  3. On Jan. 01, 2016 Arun sold goods for Rs 30,000 to Sunil. 50% of the ...

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  4. Darshan sold goods for Rs 40,000 to Varun on 8.1.2016 and drew upon ...

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  5. Bansal Traders allow a trade discount of 10% on the list price of the ...

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  6. Narayanan purchased goods for Rs 25,000 from Ravinderan on Feb. 01, 2...

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  7. Ravi sold goods for Rs 40,000 to Sudershan on Feb 13, 2016. He drew...

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  8. On Jan 01, 2016 Neha sold goods for Rs 20,000 to Muskan and drew upo...

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  9. On Jan 15, 2016 Raghu sold goods worth Rs 35,000 to Devendra and dre...

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  10. Viaml purchased goods Rs 25,000 from Kamal on Jan 15, 2016 and accept...

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  11. Abdulla sold goods to Tahir on Jan 17, 2017 for Rs 18,000. He drew a...

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  12. Asha sold goods worth Rs 19,000 to Nisha on March 02, 2017. Rs 4,00...

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  13. On Feb. 02, 2017, Verma purchased from Sharma goods for Rs 17,500. Ve...

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  14. Lilly sold goods to Methew on 1.3.2017 for Rs 12,000 and drew upon M...

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  15. Kapil purchased goods for Rs 21,000 from Gaurav on 1.2.2017 and accep...

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  16. On Feb. 14, 2017 Rashmi sold good Rs 7,500 to Alka. Alka paid Rs 50...

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  17. Nikhil sold goods for Rs 23,000 to Akhil on Dec. 01, 2017. He drew up...

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  18. On Jan 01, 2017 Vibha sold goods worth Rs 18,000 to Sudha and drew up...

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  19. Following was the position of debtor and creditor of Gautam as on 1.1....

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  20. On Jan. 01, 2017 Harsh accepted a months bill for Rs 10,000 drawn o...

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