Question
Mohit Draw a Bill of Exchange of Rs. 30,000 payable in 3 months on Rohit. He got it discounted from the bank at a
Mohit Draw a Bill of Exchange of Rs. 30,000 payable in 3 months on Rohit. He got it discounted from the bank at a discount of 12% p.a. On due date the bill was returned dishonoured due to bankruptcy of Rohit and final dividend of Re.025 in a rupee was received from the estates of Rohit. Discounting charges on discounting of bill will be A B C D Rs. 3600 Rs. 900 Rs. 600 Rs. 400
Step by Step Solution
3.52 Rating (152 Votes )
There are 3 Steps involved in it
Step: 1
Bill amount R 30000 Rate 12 3 mo...Get Instant Access to Expert-Tailored Solutions
See step-by-step solutions with expert insights and AI powered tools for academic success
Step: 2
Step: 3
Ace Your Homework with AI
Get the answers you need in no time with our AI-driven, step-by-step assistance
Get StartedRecommended Textbook for
Financial Accounting
Authors: Belverd E. Needles, Marian Powers
11th edition
1133769314, 053847601X, 9781133715023, 978-1133769316, 1133715028, 978-0538476010
Students also viewed these Accounting questions
Question
Answered: 1 week ago
Question
Answered: 1 week ago
Question
Answered: 1 week ago
Question
Answered: 1 week ago
Question
Answered: 1 week ago
Question
Answered: 1 week ago
Question
Answered: 1 week ago
Question
Answered: 1 week ago
Question
Answered: 1 week ago
Question
Answered: 1 week ago
Question
Answered: 1 week ago
Question
Answered: 1 week ago
Question
Answered: 1 week ago
Question
Answered: 1 week ago
Question
Answered: 1 week ago
Question
Answered: 1 week ago
Question
Answered: 1 week ago
Question
Answered: 1 week ago
Question
Answered: 1 week ago
Question
Answered: 1 week ago
Question
Answered: 1 week ago
Question
Answered: 1 week ago
Question
Answered: 1 week ago
Question
Answered: 1 week ago
View Answer in SolutionInn App