Question: I need the answer as a PDF file or WORD file.... Practice 6: The following is an analysis of the bills discounted from the books

I need the answer as a PDF file or WORD file....

Practice 6: The following is an analysis of the bills discounted from the books of accounts of a AM Bank as at 31st December 2017 Bills discounted 6,000,000 Rebate on bills discounted (1 January 2017) 50,000 Discount Received 150,000 Date of bills Amount RO Term months Discounted at % p.a October 20 1,200,000 2 November 5 1,000,000 December 5 600,000 December 20 300,000 Required: Calculate the rebate on bills discounted for the above bills. Pass the journal entries and Show the discount and interest and rebate on bills discounted account in the ledger books of bank. 12 4 10 2 12 3 10

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