Chapter - 12 (Question - 23 Bill of exchange and promissory note)

 

Question - 23

On 1st April, 2000 Sunil sold goods to Anil for Rs. 5,000 and drew a three months bill on him for this amount to which Anil accepted it was however dishonoured on the due date and Rs. 50 were incurred for noting charge.

Pass journal entries in the books of Sunil for the following :

1. If he retained the bill till due date 
2. If he discounted the bill at 6% p.a.
3. If he has endorsed it to shyam.