A bill of Exchange, dated , 12th july, 2018 payable 3 months after date.

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.

A owed B ₹ 8,000 . He gave a bill for the same on 1st August , 2018 payable after 4 months at the Bank of India, Chandni Chowk. Delhi, Immediately after receiving the bill, B endorsed it to C in payment of his debt. On 1 st septeber, C discounted the bill at 12% p.a. the bill is met on due date.

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.

On 1st January 2019 , A sold goods to B for ₹ 5,000 plus IGST @ 18% A received ₹ 900 by cheque was duly accepted by B.A retained the bill for the balance amount payable 3 months after date. The bill was duly accepted by B. A retained the bill till due date. on due date, the bill was paid. Pass Journal entries in the books of A and B Also, Show necessary accounts in the books of both the parties.

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

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.