Q. 3 solution of Bills of Exchange TS Grewal Book Class 11 2021-22

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Are you looking for the solution of Question number 3 of the Bills of Exchange of TS Grewal Book class 11, 2021-22 Edition for the 2021-22 session?

Question number 3 of the Bills of Exchange is a practical one.

Question Number 3 Solution of Bills of Exchange of TS Grewal Book 2021-22 Class 11

Question – 3

On 1st January 2021, A sold goods to B for ₹5,000 plus IGST @ 18%. A received ₹900 by cheque from B and drew on him a bill for the balance amount payable 3 months after date. The bill was duly accepted by B. A retained the bill till the due date. On the due date, the bill was paid. Pass Journal entries in the books of A and B. Also, show necessary accounts in the books of both parties.

Solution:-

Book of B

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