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A sold goods to B for $. 1,000. A drew a bill of exchange for $. 1,000 on B and the bill was duly
A sold goods to B for $. 1,000. A drew a bill of exchange for $. 1,000 on B and the bill was duly accepted by B and returned to A. Pass necessary entries in the books of A and B in the following cases. Case 1: On the due date the bill was honoured. Case 2 on the due date the bill was dishonoured. Case 3: A discounts the bill with his banker for $. 980 and on the due date the bill was (a) honoured, (b) dishonoured and the banker has paid a noting charge of $ 10.
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