Question: X draw a 3 months bill of exchange of Rs. 20,000 on Y on 1st April 14. On due date Y paid Rs. 4000

X draw a 3 months bill of exchange of Rs. 20,000 on

X draw a 3 months bill of exchange of Rs. 20,000 on Y on 1st April 14. On due date Y paid Rs. 4000 and requested X to draw another bill of exchange for 2 months. On the due date of second bill of exchange Y is declared involvement and a dividend of 25 paise in a rupee is expedited to be realized from his assets. Find the amount receivable from Y in respect of the outstanding bill of exchange.

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