Q. 11 solution of Bills of Exchange TS Grewal Book Class 11 2021-22

Are you looking for the solution to Question number 11 of the Bills of Exchange of TS Grewal Book class 11, 2021-22 Edition for the 2021-22 session?

Question number 11 of the Bills of Exchange is a practical one.

Question Number 11 Solution of Bills of Exchange of TS Grewal Book 2021-22 Class 11

Question – 11

X Draws on Y a bill for ₹ 4000 which was duly accepted by Y. Y meets the bill on its due date. Show what entries would be passed in the books of X under each of the following circumstances.

i) If X retains the bill till due date.

ii) If X discounts the same with his banker paying ₹ 100 for discount.

iii) If X endorses the same to his creditor Z in full settlement of his debt of ₹ 4080.

iv) If X sends the bill to his banker for collection the next day.

Solution:-

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