1.

Ram sold goods to sham on 10th feb for rupees 8000 on the same date sham accepted a bill drawn by ram for 3 months Ram discounted it with bank immediately @12%p.a. ondue date bill is honoured by sham

Answer»

Ram DR 8000 To sham 8000Feb-10. B/R a/c Dr. 8000 to sham. 8000Feb-10. bank a/c Dr 7760 DISCOUNT a/c Dr 240 To B/R. a/c. 8000May-13. No entry in the books of darawr entry of draee is B/P a/c. 8000 To cash or bank a/c 8000



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