On 1st May, 2023 Ankur sold goods to Basu for ₹ 20,000 and drew a bill of exchange on him, payable after 3 months
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On 15th April, 2023, A agrees to draw on B, who is his debtor for ₹ 24,000, three bills of exchange: No. 1 for ₹ 7,000 at month, No. 2 for ₹ 8,000 at 2 months and No. 3 for ₹ 9,000 at 3 months
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On 1st January, 2023, X sold goods to Y for ₹ 45,000 on credit, X drew 3 bills on him: first bill for ₹ 10,000 for 1 month, second bill for ₹ 15,000 for 2 months and third bill for ₹ 20,000 for 3 months
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On 1st May, 2023, Merchant & Co. sold goods to AB & Co. of ₹ 50,000 and drew upon them a bill at 3 months for the amount. AB & Co. accepted the draft on presentation
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Rama sold goods for ₹ 12,000 to Reshma on 1st January, 2023. On the same date Rama draws a bill on Reshma for ₹ 12,000 for a period of 3 months
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A purchases goods of ₹ 62,000 from B. A gives his acceptance for ₹ 62,000. B purchases goods worth ₹ 1,00,000 from C and endorses the bill to him, paying the balance by cheque
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Amar purchased goods of ₹ 10,000 from Bimal on 1st January, 2023. Amar accepts a bill for 1 month drawn by Bimal for the same
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Record the following transactions in the books of Sharma: Sharma’s acceptance in favour of Banerji for ₹ 2,000 dishonoured. Banerji agreed to receive ₹ 1,000 in cash and a new bill at 3 months for ₹ 1,000. Interest @ 6% p.a. is to be paid immediately by cash
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Ram’s acceptance for ₹ 20,000 renewed for 3 months, plus interest @ 5% p.a
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Record the following transactions in the books of Mehta Mehta’s acceptance for ₹ 2,500 retired before due date for a discount of ₹ 50.
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