Record the following transactions in the books of Mehra Mehra’s acceptance for ₹ 1,500 in favour of Chopra renewed for 3 months together with interest @ 6% p.a
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B’s acceptance for ₹ 1,000 due on this day, was renewed at his request for 3 months with interest @ 6% p.a
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Y owed X ₹ 15,000 who drew on him one bill for ₹ 10,000 payable 2 months after date and other for ₹ 5,000 payable 3 months after date
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Ram owed ₹ 20,000 to Mohan on 1st January, 2023. On this date, he accepted a draft for the amount for 3 months
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Ram’s acceptance for ₹ 30,000 endorsed in favour of Shyam is dishonoured. Shyam pays ₹ 500 as noting charges
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A bill for ₹ 20,000 is drawn by A on B and accepted by the latter payable at Bank of India. Show what entries should be passed in the books of A under each of the following circumstances
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Y owes X ₹ 40,000. On 1st January, 2023, Y accepts a 3 months bill for ₹ 39,000 in satisfaction of his full claim
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On 1st January, 2023, A drew a bill on B for ₹ 10,000 payable after 3 months. B accepted the bill and returned it to A
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On 1st March, 2023, R accepted a bill of exchange for ₹ 20,000 from S payable 3 months after date in full settlement of his dues
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On 1st Janurary, 2023, A draws a bill on B for ₹ 10,000 payable after 3 months. Immediately after its acceptance, A sends the bill to his bank for collection
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