on dissolution bills payable of rupees 40,000 due after 1 month were discharge at a discount of 18 % per annum realisation account is to be debited with
a)32,600 b) 39,400 c)39,600

Amount Payable = 40000
Less: Discount = 40000x18%x1/12 = 600

Net=39400
  • 0
  1. On dissolution of a firm, bills payable of Rs.40,000 due after one month were discharged at a discount of 18% per annum. Realization account is debited with
  • 1
39400
  • -1
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