Bills of exchange

Discount to be borne by X for the second bill will be calculated as: - Amount due to Y, but not remitted by X: â?¹20,000 (we will consider this because had X remitted this amount, there would not have been need of this bill in first place) - Amount received by X from Y: â?¹6,740 Total: â?¹26,740 which is 2/3rd of the discounted amount (â?¹40,110). So, 2/3rd of the discount amount i.e. 1260 [2/3rd of 1890] will be borne by X

Sahibdeep Singh

CA Inter

★ 14K+

16-Mar-21 11:57

Bro it's discounting of bill with bank. 1260 is the amount which we allowed discount to bank.

Meda Jeevansai

CA Inter

★ 20K+

15-Mar-21 21:54

Bro explain how 1,260 is discount

Thread Starter

siva chaitanya

CA Final

★ 8K+

15-Mar-21 21:55

Send the problem pic.

Meda Jeevansai

CA Inter

★ 20K+

15-Mar-21 21:56

Question

Thread Starter

siva chaitanya

CA Final

★ 8K+

15-Mar-21 21:58

I understood total discount with bank is 1,890 for renewed bill but why only 1,260 has been passed how to calculate ? Can you explain bro

Thread Starter

siva chaitanya

CA Final

★ 8K+

15-Mar-21 22:00

Bro I think the answer is wrong . My answer is Bank A/C Dr 6685 Discount A/C Dr 315 To Y A/C 7000 And last entry Y A/c Dr 27000 To Bank 13500 To Deficiency 13500

Meda Jeevansai

CA Inter

★ 20K+

15-Mar-21 22:18

Sry bro mine also wrong :( . Let's wait for sir's reply

Meda Jeevansai

CA Inter

★ 20K+

15-Mar-21 22:20

Ok no problem bro. Sir can you please answer the question

Thread Starter

siva chaitanya

CA Final

★ 8K+

15-Mar-21 23:41

Sir can you please explain this question

Thread Starter

siva chaitanya

CA Final

★ 8K+

16-Mar-21 10:13

Thanks sir

Thread Starter

siva chaitanya

CA Final

★ 8K+

16-Mar-21 12:00