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On 1st March 1998 David approached his friend Joseph for a loan of $. 2,000 and latter being unable to find the money accepted
On 1st March 1998 David approached his friend Joseph for a loan of $. 2,000 and latter being unable to find the money accepted a two months bill for the amount. David discounted the bill with his banker on 3rd March 1998 at 12% p.a. On the due of the bill David sent the necessary amount to joseph to enable him to meet the bill. Show the journal entries in the books of David and joseph.
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Horngrens Accounting
Authors: Tracie L. Miller Nobles, Brenda L. Mattison, Ella Mae Matsumura
10th edition
133117413, 978-0133129519, 133129519, 978-0133129557, 133129551, 978-0133117561, 133117561, 978-0133117417
