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Q.2 Ahmed sells goods to Sohail for Rs. 10.000, and draws a bill for 3 months. Sohail accepts the bill and returns it to Ahmed.
Q.2 Ahmed sells goods to Sohail for Rs. 10.000, and draws a bill for 3 months. Sohail accepts the bill and returns it to Ahmed. The bill is honoured on the due date by B. Pass the Journal entries in the books of the drawer ( Shohail ) under the following circumstances: I End Figure Percentage (a) If the bill is discounted immediately at 11% p.a. (b) If the bill is endorsed to Majid his creditor. Ic) If the bill is sent to the bank for collection (d) It the bill is retained by Sohail with himself till due date
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