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

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

Give Journal entries for the following:

(a) B’s acceptance for ₹ 1,000 due on this day, was renewed at his request for 3 months with interest @ 6% p.a.

(b) Out bill to C, Chandra for ₹ 5,000 renewed for 2 months with interest @ 6% p.a.

(c) B’s acceptance of ₹ 3,000 is discharged on his paying us cash ₹ 1,000 and accepting a fresh bill for the balance with interest ₹ 100.

Solution:-

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