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On 1st January, 2014, X sold goods worth Rs. 5,000 to Y and drew a bill on Y at three months for the amount. Y accepted the bill and returned it to Z who endorsed the bill one month after the acceptance in favour of Z in settlement of his debt for Rs. 5,100. The bill is honoured on maturity. Pass the necessary journal entries in the books of X, Y, and Z.

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Journal Entries In the Books of Y (Acceptor)

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