Tag: book keeping and accountancy

The cancellation of the old bill maturity in return for a new bill (which includes interest) for an extended period is called ________________.

Interest due in the books of drawer is ______________ drawee's account.

During renewal of the bill the old bill is _____________ and fresh bill is accepted.

A bill of Rs.10000 Retired one month before due date @12% p.a , ascertain the rebate allowed ____________.

During renewal ________ are not considered as cancellation cost is mutually agreed between both the parties.

Only ________ can retire the bill before due date.

Retirement of bill means __________.

When part payment is received drawer debits ________ account.

When drawee approaches the drawer for further extension of bill it is known as __________________.

At the time of retirement of a bill a exchange, the drawee credit ___________.