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Justin draws on Travis a bill of exchange for 3 months for $1,000 which Travis accepts on 1st January, 2017. The bill is discounted
Justin draws on Travis a bill of exchange for 3 months for $1,000 which Travis accepts on 1st January, 2017. The bill is discounted on 1st February, 2017 for $985. Travis meets the bill on the due date. Pass journal entries in the books of Justin and Travis.
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Cost Accounting A Managerial Emphasis
Authors: Srikant M. Datar, Madhav V. Rajan, Charles T. Horngren, Louis Beaubien, Chris Graham
7th Canadian Edition
133138445, 978-0133926330, 133926338, 978-0133138443
