A owed B ₹ 400. A accepted a Bill of Exchange at 3 months for this amount which B discounted for ₹ 380
Give the necessary Journal entries in the books of A and B of this bill is :
(a) dishonoured on the due date
(b) met at maturity and
(c) retired under rebate at 6% p.a. 2 months before its maturity.

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

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.

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 , Rolly owed ₹ 50,000 to Polly. On 1st February, he accepted a draft for 3 months drawn on him by Polly for the amount. On the due date, the bill was dishonoured the noting charges being ₹ 500. pass the journal entries in the books of polly in each of the following cases : (i) Bill is held till maturity by polly. (ii) Polly endorses the bill in favour of Golly immediately and (iii) Bill is discounted with the bank at 12% p.a. immediately.

On Jan 01,2017 Shieba sold goods to Vishal for Rs 10,000 and drew upon him a bill of exchange for 2 months. Vishal accepted the bill and returned it to Shieba. On the date of maturity the bill was dishonoured by Vishal. Record the necessary entries in all the cases listed below in the books of Shieba and Vishal: (i) When the bill kept by Shieba till its maturity, (ii) When the bill is discounted by Shieba for Rs 200, (iii) When the bill is endorsed to Lal Chand by Shieba.

On 15th June , 2019 Mohan sold goods to Sohan valued at ₹ 2,000. He drew a bill at 3 months for the amount and discounted the same with his bank for ₹ 1,960 . On the due date the bill was dishonoured and Mohan paid to the amount due plus the noting charges of ₹ 10. Pass the necessary Journal entries in the book of all parties.

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.

Leena sold goods to Meena on 1st March , 2009 for ₹ 68,000 and drew two Bills of Exchange of the equal amount upon Meena payable after three months. Leena immediately discounted the first bill with her bank at 12% p.a. the bill was dishonoured by Meena and Bank paid ₹ 55 as noting charges. The second bill was retired on 4th May , 2009 under a rebate of 6% p.a. with mutual agreement. Journalise the above in the books of Leena and meena.