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Bills of exchange

Can you please explain this entry. How amounts are divided as 6,740 and 1,260.

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siva chaitanya

siva chaitanya

CA Foundation

1K+

15-Mar-21 17:59

18

Answers (11)

Best Answer

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

Sahibdeep Singh

Moderator

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

Meda Jeevansai

CA Foundation

11K+

15-Mar-21 21:54

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

Bro explain how 1,260 is discount


siva chaitanya

siva chaitanya

CA Foundation

1K+

15-Mar-21 21:55

Bro explain how 1,260 is discount

Send the problem pic.


Meda Jeevansai

Meda Jeevansai

CA Foundation

11K+

15-Mar-21 21:56

Question

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IMG_20210315_215815.jpg


siva chaitanya

siva chaitanya

CA Foundation

1K+

15-Mar-21 21:58

Question

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


siva chaitanya

siva chaitanya

CA Foundation

1K+

15-Mar-21 22:00

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

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

Meda Jeevansai

CA Foundation

11K+

15-Mar-21 22:18

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

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


siva chaitanya

siva chaitanya

CA Foundation

1K+

15-Mar-21 23:41

Sir can you please explain this question


siva chaitanya

siva chaitanya

CA Foundation

1K+

16-Mar-21 10:13

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