Amar sells goods to Bhola for ₹ 10,000 and draws upon him a bill for the amount payable 3 months after date. The bill is accepted by Bhola. Amar discounts the bill with his bankers at a discount of ₹ 150 inclusive of all charges. Bhola falls to meet this bill on maturity. Amar pays off his banker and his expenses amounting to ₹ 100 . Bhola gives a fresh bill, 2 months date to Amar for ₹ 10,250 which he met at maturity.
Show the necessary Journal entries in Amar's books.

Amar sells goods to Bhola for ₹ 10,000 plus CGST and SGST @ 9% each. He receives the GST amount in cash and draws upoon Bhola . Amar discounts the bills with his bank 3 months after date. The bill is accepted by Bhola. Amar discounts the bill on maturity. Amar pays off ₹ 150 inclusive of all charges. Bhola fails to meet this bill on maturity. Amar pays off his bank and his expenses amounting to ₹ 100 . Bhola gives a fresh bill of 2 month's date to Amar for ₹ 10,250 which he meets at maturity. show necessary Journal entries in Amar's books.

Discounting Of Bills

Vinod sold goods to Darbara Singh for ₹ 1,000 on 1st January 2019. He drew on the latter a bill for the amount payable 3 months afteer date. Iie discounted the bill with his bank for ₹ 990 on 4th January, 2019. On maturity the bill is duly met. Make the journal entriese the books of Vinod and Darbara Singh.

On 15th June , 2019 X sold to Y goods to the value of ₹ 15,000 drawing upon the latter two bills, one for ₹ 10,000 payable 2 months after date and other for ₹ 5,000 payable, 3 months favour after date. X discounted the first bill with his bank at 6% p.a. and endorsed the second bill in favour of his creadtior Z. the first bill was met on maturity but the second was dishonoured. Z paid ₹ 50 as noting charges. on 1st Ocatober. Y cleared his account to X by paying ₹ 5,100 which included ₹ 50 as interset. Record the necessary Journal entries in the books of both X and Y.

On 15th January, 2006 Sachin sold goods for ₹ 30,000 to Narain and drew upon later a bill for the same amount payable after 3 months. The bill was accepted by Narain. The bill was discounted by sachin from his bank for ₹29,250 on 31th January, 2006, on maturity the bill was dishonourd . he further agreed to pay ₹ 10,500 in cash including ₹ 500 interset and accept a new bill for two months for the remaining ₹ 20,000. the new bill was endorsed by sachin in favour of his creditor Kapil for debt of ₹ 20, 000. the new bill was duly met by Narain on maturity. give journal entries.

The true discount on a bill of ? 900 is ? 100. Find the banker's discount.

Mohan singh draws a bill on Jagat for ₹ 1,000 payable 2 month s after date. Immediately after its acceptance, Mohan Singh sends to his the bill to his bank for collection. On due date, bank gets the payment. Make the entries in the books of all the parties.

A sells goods of ₹ 10,000 on 1st March, 2019 to B on credit. B accepts a bill on the same date for the amount payable three months after date. A discounts the bill at 6% p.a. from bank on 4th April.On maturity, the bill is met by B. Pass the necessary Journal entries in the books of both the parties.