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

On May 01, 2016 Mohit sends his promissory note of Rs 6000 for 3 months to Rohit. Rohit gets it discounted with his bankers at 18 percent per annum on May 04. On the due ate the bill is dishonoured, the bank paying Rs 10 as noting charges. Rohit agrees to accept Rs 2,130 in cash (including Rs 130 for noting charges and interest) and another promissory note for Rs 4,000 at 2 months. On the due date, Mohit approaches Rohit again and asks for renewal of the bill for a further period of 3 months. Rohit agrees to the request, provided Mohit pays Rs 200 as interest in cash. This last bill is paid on maturity. Draft journal entries in the books of Mohit and Rohit.

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.

Asha sold goods worth Rs 19,000 to Nisha on March 02, 2017. Rs 4,000 were paid by Nisha immediately and for the balance she accepted a bill of exchange drawn upon her by Asha payable after three months. Asha discounted the bill immediately with her bank. On the due date Nisha dishonoured the bill and the bank paid Rs 30 as noting charges. Record the necessary journal entries in the books of Asha and Nisha.

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.

On 1st January, 2019, A drew a bill on B for ₹ 5, 000 payable after 3 months. B accepted the bill and returned it to A. after 10days A endorsed the bill to his creditor C. On the due date the bill was dishonoured and C pair ₹100 as noting charges. Record the transactions in the Jornals of A, B and C.

Kapil purchased goods for Rs 21,000 from Gaurav on 1.2.2017 and accepted a bill of exchange drawn by Gaurav for the same amount. The bill was payable after one month. On 25.2.2017 Gaurav sent the bill to his bank for collection. The bill was duly presented by the bank. Kapil dishonoured the bill and the bank paid Rs 100 as noting charges. Record the necessary journal entries for the above transactions in the books of Kapil and Gourav.

Ashok sold goods Rs 14,000 t Bishan on October 30,2016 and drew three bills for Rs 2,000, Rs 4,000 & Rs 8,000 payable after two, three, and four months respectively. The first bill was kept by Ashok with him till maturity. He endorsed the second bill in favour of his creditor Chetan. The third bill was discounted on December 03,2016 at 12% p.a. The first and second bills were duly met on maturity but the third bill was dishonoured and the bank paid Rs 50 as noting charges. On March 03,2017 Bishan paid Rs 4,000 and noting charges in the cash and accepted a new bill at two months after date for the balance plus interest Rs 100 The new bill was met on maturity by Bishan. You are required to give the journal entries in the books of both Ashok ans Bishan and prepare Bishan's account in Ashok's books and Ashok's account in Bishan's books.

A bill of Rs.65,700 drawn on July 10 for 6 months was discounted for Rs.65,160 at 5% p.a. on what day was the bill discounted?