[ISC] Q 18 Solution Bills of Exchange Class 11 (2022-23)

Are you looking for the solution of Question number 18 Bills of Exchange class 11 ISC 2022-23?

A bill for ₹ 10,000 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:

(a) If A retained the bill till the due date and then realised it on maturity.

(b) If A discounted it with his bank for ₹ 9,500.

(c) If A endorsed it to his creditor C in full settlement of his debt.

(d) If A sent it to his banker for collection.

Also, give necessary entries in each of the cases if the bill is dishonoured.

Solution:-

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