[ISC] Q 14 Solution Bills of Exchange Class 11 (2023-24)

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Solution of Question number 14 Bills of Exchange class 11 ISC 2023-24?

On 1st July, 2022, A drew a bill for ₹ 50,000 on B payable after 3 months. A discounted it with the bank for ₹ 48,500. On maturity, B failed to pay the amount of his acceptance and the bank had to pay ₹ 500 as noting charges.

Draw necessary Journal entries in the books of A and B.

Solution:-

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