Tag: bills of exchange

X accepted a bill drawn by Y who endorsed the bill to Z. One the due date, the bill is dishonored. To record the dishonor of the bill in the books of Y, Which of the following accounts should be credited?

X draws a bill on Y for 1,50,000 for 3 months on 1.1.13. The bill is discounted with the banker at a charge of  4,500. At maturity the bill return dishonored. In the books of X, for dishonor, the bank account will be credited by:

On 18.2.13 A drew a bill on B for 10,000. B accepted the bill on 21.2.13. The bill is drawn for 30 days after sight. The due date of the bill will be:

On 1st Jan 2013,  X draws a bill on Y for Rs 1,50,000 for 3 months. X got the bill discounted on 4th Jan 2013, @ 12% p.a. The amount of discount on bill will be:

On 10th Sept. X draws a bill on Y for 3 months for 20,000. $ { 13 }^{ th } $ Dec. Was a sudden holiday, due date of the bill will be:

X got Y's acceptance on s bill drawn for Rs 1,50,000, discounted at 2 months at 12% p.a. The amount of discount will be?

A bill is drawn on $ { 29 }^{ th } $ Jan for one month after date. The date of acceptance is $ { 2 }^{ nd } $ Feb. The bill is drawn on one month after date basis. The due date of the bill will be:

On 10th Sept. X draws a bill on Y for 25,000 for 30 days. 13th Dec. is public holiday, due date of the bill will be:

A draws a bill on B for 1,50,000. A endorsed the bill to C. The bill return dishonoured. Noting charges 1,500. B request A to accept the amount at 2% discount by a single cheque. The cheque amount will be:

X draws on Y a bill for 6,00,000 on 1st April for 2 months. Y accepts the bill and sends it to X who gets it discounted for 5,88,000. X immediately remits 1,96,000 to Y. On due date, X being unable to remit the amount due accepts a bill for 8,40,000 for 2 months which is discounted by Y for 8,20,000. Y sends 1,48,000 to X out of the same. How much discount will be borne by X at the time of 1,48,000 remittances.