Mr A purchased goods worth $1500 From B for which the latter drew a bill on the
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Mr A purchased goods worth $1500 From B for which the latter drew a bill on the former, payable after onemonth.
Mr A accepted it and returned it to Mr B.Mr B endorsed it to Mr C And Mr C to Mr D. Mr D discounted the bill withbank at6 % p.a .On maturity, the bill was dishonoured, noting charge being $5 . Show the entries in the books of all thepartiesIncluding the book of bank.
Related Book For
Cambridge IGCSE And O Level Accounting Coursebook
ISBN: 9781316502778
2nd Edition
Authors: Catherine Coucom
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