Answer question number 13

Answer question number 13 the books of Y. and prepare r s account in Retiring a Bill under Rebate 12. January l, 201 7, Ajay sold goods to Balbir for ? 10,000 at a discount of that date, Balbir accepted a bill, drawn on him by Ajay for 0.000 payable 3 after sight. Having surplus funds, Balbir paid off the bill on 4th March, 2017 allowed a rebate of 18% per annum. Show Journal entries in the books of Ajay Bzlöir. %50nour of a Bill JO. 13. On 17th April, 2016, X sold goods to Y for and draws a bill for 2 upon Y for the amount due. Y accepted the bill and returned it toX. On due date hecame dishonoured and X paid as Noting Charges. Fifteen days later Y the amount due to X Pass Journal entries in the books of both the parties. Dishonour and Renewal of Bill . 14 (A). On 1st April, 2016, B accepts a bill drawn by A at three months for in payment of debt. On the due date the acceptance is dishonoured and A gets noted paying J 00. On 4th July, 2016/1 draws a new bill payable after 73 days 70'/Jded interest is paid in cash @ 15% p.a. To this B is agreeable. The bill is met on taturity. Record these transactions in the Journal of both the parties. 73 15 - (243 (I) Amount of Interest = 8,100 x Jlintq 100 365

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