X bought goods from Y for $ 12,000 Y draws a bill on 1 1 2016 for 3 months which was accepted by X for this purpose On 1 3 2016, X arranged to retire the bill at a rebate of 12 p a Show the entries in the books of X and Y X bought goods from Y for $ 12,000 Y draws a bill on 1 1 2016 for 3 months w...

X bought goods from Y for $ 12,000. Y draws a bill on 1.1.2016 for 3...

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Intermediate Accounting

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Authors: J. David Spiceland, James Sepe, Mark Nelson, Wayne Thomas

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X bought goods from Y for $ 12,000. Y draws a bill on 1.1.2016 for 3...

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