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Suggest this answer by meaning: Davidâ??s acceptance to Samuel for ` 5,000 discharged by a cash payment of ` 1,000 and a new bill for the balance plus ` 100 for interest.
Answers (2)
Dhakshana Dhakshana
Here davida accepted a bill of 5000 already now that bill is discharged by paying cash of 1000 and for the remaining 4000 they drew a new bill with 100 rupee intrest
Yes. Cancel bill of 5000 B/R A/c Dr 4100 Cash A/c 1000 To B/R A/c 5000 To Interest Income 100
