Ram owes ₹ 2,000 to Mohan on 1st January 2019 on this date, he accepted a draft for the amount for 3 months.Mohan got the bill discunted at his bank @ 6% p.a. on the due date, the bill was dishonoured , noting charges ₹ 20. Ram agreed to pay ₹ 520 immediately and accpet another bill for the remaining amount for 3 months together with interset at 9% p.a.. this bill was met on the due date. give the journal entries in the books of both paties.

A drew upon B a bill for ₹ 60,000 at 2 months and B returned the bill duly accepted on 1st January , 2019. A discounted the bill with bank @ 15% p.a. Before the bill was due for payment, B informed A that he was not able to pay the full amount and requested A to accept ₹ 20,000 immediatelyj and draw upon hum another bill for the balance amount for 2 mounts along with interset @ 18% p.a. A agredd. the second bill was duly met. give the journal entries in the books of both A and B.

On 1st April 2019 , Ram sold goods to Mohan for ₹ 50,000 . On the same date, Mohan accepted a bill drawn upon him by Ram at 3 months for ₹ 50,000. on the due date, the bill was met. Give the journal entries in the books of both the parties (Ignore GST).

Ankit owes Nikita a sum of Rs 6,000. On April 01, 2016 Ankit gives a promissory note for the amount for 3 months to Nikita who gets it discounted with her bankers for Rs 5,760. on the due date the bill is dishonoured, the bank paid Rs 15 as noting charges. Ankit then pays Rs 2,000 in cash and accepts a bill of exchange drawn on him for the balance together with Rs 100 as interest. This bill of exchange is for 2 months and on the due date the bill is again dishonoured, Nikita paid Rs 15 as noting charges. Draft the journal entries to be recorded in Nikita’s books

X sells goods for ₹ 40,000 to Y on 1st January , 2019 and on the same day draws a bill on Y at three months for the amount. Y acceopts it and returns it to X, who discounted it on 4th January , 2019 with his bank at 6%p.a.. The accepteance is dishonoured on the due date and the noting charges were paid by bank being ₹ 200. On 4th April 2019, Y accepts a new bill at three months for the amount then due to X togther with interset at 12% p.a. Make Journal to record these transcations in the books of X.

A bill of Rs.8,000 drawn on 5th January 2019 for 8 months was discounted for Rs.7,680 on a certain date. Find the date on which it was discounted at 10% p.a.

On 1st January , 2019 A drew a bill on B for ₹ 10,000 payable after 3 months . B accepted the bill and returened it ot A. After 10 days. A endorsed the bill creditor C. On the due date, the bill was dishonoured and C paid ₹ 50 as noting charges. Record the transactions in the books of A,B and C.

Amar sold goods for ₹ 50,000 to Bhaskar on 1st January, 2019 and on the same day he drew a bill on Bhaskar at three at three monthsfor the amount . The bill is duly accepted but is dishonoured on the due date. Amar pays ₹ 1,000 as noting charges. Record these transactions in the journals of Amar and Bhaskar. ( Ignore GST)

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.