[ISC] Q 3 Solution Bills of Exchange Class 11 (2023-24)

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Solution of Question number 3 Bills of Exchange class 11 ISC 2023-24?

On 1st January, 2023, A sold goods to B for ₹ 10,000. A drew on B a bill for the amount payable 3 months after date. The bill was duly accepted by B. A retained the bill till due date. On due date, the bill was paid.

Pass Journal entries in the book of A and B. Also, show necessary accounts in the books of both the parties.

Solution:-

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