[ISC] Q 24 Solution Bills of Exchange Class 11 (2022-23)

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Are you looking for the solution of Question number 24 Bills of Exchange class 11 ISC 2022-23?

Record the following transactions in the books of Kapadia:

(a) A bill recived from Dalpat for ₹ 1,000 has to be renewed, Dalpat agrees to pay ₹ 20 as interest.

(b) Swamy’s bill for ₹ 800 endorsed in favour of Ghosh dishonoured, Ghosh pays ₹ 10 as noting charges. Swamy pays ₹ 300 immediately and agrees to accept a new bill for 3 months for the balance together with interest @ 6% p.a. Ghosh’s Account is settled by cheque.

Solution:-

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