[ISC] Q 22 Solution Bills of Exchange Class 11 (2022-23)

Are you looking for the solution of Question number 22 Bills of Exchange class 11 ISC 2022-23?

Sahil owed Suman ₹ 40,000. Sahil accepted a bill of exchange at 3 months for this amount which Suman discounted for ₹ 38,000.

Given necessary Journal entries in the books of Sahil and Suman if this bill is:

(a) dishonoured on due date;

(b) met at maturity; and

(c) retired under rebate @ 6% p.a. 2 months before its maturity.

Solution:-

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