Question

A two months Bill for ₹ 60,000 is drawn by B & Co. and accepted by C & Co. payable at the Bank of India. B & Co. gives the bill to their banker for collection. On due date, bill is honoured. Show what entries will be passed in the books of B & Co.

Answer 1

A two months Bill for ₹ 60,000 is drawn by B & Co. and accepted by C & Co. payable at the Bank of India. B & Co.