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–1 vote
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in CBSE by (19 points)
5. On 1st January, 2021, \( X \) sold goods of ₹ 20,000 to \( Y \) and drew a bill on \( Y \) at three months for the amount. \( Y \) accepted the bill. The bill is met on maturity. Pass the necessary Journal entries in the books of \( X \) and \( Y \), if \( X \) discounted the bill @ 12\% p.a. from bank on 4th January. [Hint: Discounting charges \( =₹ 600 \).]

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Every one have doubt about what they do so do I . I just want to make sure whatever i have done is correct.

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