Ram draws a bill ₹ 2,000 on Shyam on 15th September , 2018 for 3 months . On maturity, shyam failed to honour the bill.
Pass the necessary Journal entries in the books of Ram and Shyam.

On 1st January , 2019 X sold goods of ₹ 20,000 to Y and drew a bill on Y at months of the amount. Y accepted the bill. The bill is met on maturity. Pass the necessary Journal entries in the books of X and Y , if X dicounted the bill @ 12% p.a. from bank on 4th January

Viaml purchased goods Rs 25,000 from Kamal on Jan 15, 2016 and accepted a bill of exchange drawn upon him by Kamal payable after two months. On the date of the maturity the bill was duly presented for payment. Vimal dishonoured the bill. record the necessary journal entries in the books of Kamal and Vimal when. • The bill was retained by Kamal till the date of its maturity. • The bill was immediately discounted by Kamal with his bank @ 6% p.a. • The bill was endorsed by Kamal in favour of his creditor Sharad. • Five days before its maturity the bill was sent by Kamal to his bank for collection

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.

Rakesh draws a bill on Bhavesh for ₹ 20,000 on 4th september, 2018 payable after 4 months. Rakesh discounts the bill with the bank @ 12% p.a on 7 th October. The bill is dishonoured on the due date. Pass the necessary Journal entries in the books of Rakesh and Bhavesh if the bank ₹ 300 as noting charges ( Ignore GST)

On 1st , 2019 A drew a bill for ₹ 5,000 on B payable after 3 months. A discounted it with the Bank for ₹ 4,850. on maturity , B failed to pay the amount of his acceptance and the bank had to pay ₹ 50 as noting charges. Pass the necessary Journal entries in the books of A and B.

On 1st January, 2019, Amrit sold goods to Bhanu for ₹ 50,000 and on the same day drew upon him a bill at 3 months fot he amount. Bhanu accepted the bill and returned it to Amrit. On 4th January , 2019 Amrit discounted the bill with his bank at ₹ 49,000. on the due date, the bill was dishonoued and bank paid ₹ 1,000 as noting chares. Pass the neccessary Journal entries in the books of Amrit and Bhanu.

On March 15,2017 Ramesh sold goods for Rs 8,000 to Deepak on credit. Deepak accepted a bill of exchange drawn upon him by Ramesh payable after three months. On April, 15 Ramesh endorsed the bill in favour of this creditor Poonam in full settlement of her debt of Rs 8,250. On May 15, Ponnam discounted the bill with her bank @ 12% p.a On the due date Deepak met the bill. Record the necessary journal entries in the books of Ramsh, Deepak, Poonam.

On 1st January, 2019 for goods sold, Ramesh drew a Bill of Exchange on Mahesh for ₹ 4,000 for a period of 3 months. Mahesh accepts it and returns to Ramehs then endorses it to Mukesh who in turn endorses it to Suresh on 1st February, 2019, the bill is then discounted by suresh on the same date with his bank at @ 5% p.a. on the due date the bill is dishonoured. Pass the necessarty Journal entries in the books of all four parties.

A drew a bill of ₹ 1,000 on B of 3 months which was duly accepted by the latter. A endorsed the bill to C in full payment of his own acceptance to C for a like amount. C endorsed the bill to B. pass the journal entries in the books of A, B and C.

Darshan sold goods for Rs 40,000 to Varun on 8.1.2016 and drew upon him a bill of exchange payable after two months. Varun accepted the bill and returned the same to Darshan. On the due date the bill was met by Varun. Record the necessary Journal entries in the books of Darshan and Varun in the following circumstances. • When the bill was retained by Darshan till the date of its maturity. • When Darshan immediately discounted the bill @ 6% p.a. with his bank. • When the bill was endorsed immediately by Darshan in favour of his creditor Suresh. • When three days before its maturity, the bill was sent by Darshan to his bank for collection.