On 1 jan2011 A sold good to B for RS1,250 B gave to A his acceptance payable - Accountancy - Bills of Exchange

Question

On 1 jan2011 A sold good to B for RS1,250 B gave to A his
acceptance payable one months after date Before maturity B request
A to renew it, which A does adding RS10 to the new bill for
interest make necessary journal entries to record the transaction
in the book of both A and B

Manisha Arora · Accepted Answer

Samir, the similar question has already been answered by one of our
experts Mr Mohammed Vaseem To view, follow the link given below

https://www meritnation
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On 1 jan2011 . A sold good to B for RS1,250 .B gave to A his acceptance payable one months after date . Before maturity B request A to renew it, which A does adding RS10 to the new bill for interest make necessary journal entries to record the transaction in the book of both A and B .