Question: BoE 2 Question Two Keose buys goods from Sefa Ltd on January 21, 2021 for P29 000 and from Bella Ltd for P41 600. Bills

BoE 2 Question Two Keose buys goods from Sefa Ltd on

BoE 2

Question Two Keose buys goods from Sefa Ltd on January 21, 2021 for P29 000 and from Bella Ltd for P41 600. Bills are drawn on her and she accepts them. Sefa Ltd discounts their bills with their bank on January 29, the discounting charge being P1100. Bella Ltd simply keep their bill waiting for maturity. On maturity of the bills on April 21, 2021, Keose duly meets Bella's bill. She is unable to pay Sefa's bill and it is accordingly dishonoured. Sefa duly has it noted on April 28, 2020, the noting charge being P100. REQUIRED: Show the general journal entries necessary in the books of: (a) Keose (b) Sefa Ltd (c) Bella Ltd

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