Chapter - 12 (Question - 24 Bill of exchange and promissory note)

 

Question - 24

Bharat sold goods worth Rs. 5,000 to Ajay and drew a bill payable after 3 months Ajay accepted the following entries if the bill is dishonoured :

1. If Bharat retains the bill till due date.
2. If he collected from his bank with an allocation expenditure of Rs. 100.
3. If he endorsed to Vijay with an allocation expenditure of Rs. 100.
4. If he has sent the bill to bank for collection.