Prepare the following Specimen: 1) Kantilal drew a bill on 10th Oct. 2019 for ₹63,490 for 45 days, accepted on 13th Oct. 2019 for 60 days. 2) Drawer: Dinesh, Drawee: Mahesh, Payee:... Prepare the following Specimen: 1) Kantilal drew a bill on 10th Oct. 2019 for ₹63,490 for 45 days, accepted on 13th Oct. 2019 for 60 days. 2) Drawer: Dinesh, Drawee: Mahesh, Payee: Amit; Amount: ₹9,500; Date of Bill: 26th Nov. 2019; Date of acceptance: 29th Nov. 2019. 3) Format of bill exchange: Rahul Sane accepted a bill for ₹87,000 on 30th July 2019, drawn on him by Prithviraj; Amount: ₹1,00,000; Date of drawing: 26th July 2019; 90 days after date.
Understand the Problem
The question requires preparing two specific financial documents related to bills of exchange, including details such as dates, amounts, and parties involved.
Answer
1. Kantilal's bill: ₹63,490, 45 days; accepted 60 days later. 2. Dinesh's bill: ₹9,500; date of bill: 26th Nov. 2019; accepted on 29th Nov. 2019. 3. Format: Rahul Sane accepted ₹87,000 on 30th July 2019; ₹1,00,000 for 90 days after bill drawn on 26th July 2019.
Answer for screen readers
- Bill of Exchange Specimen for Kantilal
Kantilal, 343/D, Palm Heights, Jogeshwari
drew a Bill on 10th Oct. 2019 for ₹63,490
for 45 days. The bill was accepted on 13th Oct. 2019
for 60 days.
- Bill of Exchange Specimen for Dinesh
Drawer: Dinesh, P. R. Road, Andheri West.
Drawee: Mahesh, L. B. S. Road, Mulund.
Payee: Amit, Thane West.
Amount: ₹9,500.
Date of Bill: 26th Nov. 2019.
Date of Acceptance: 29th Nov. 2019.
Period of Bill: 4 months after sight.
- Format of Bill Exchange
Rahul Sane, 86-D, Ravivar Peth, Nagpur accepts
the bill drawn on him by Prithviraj, Icon Heights, Wardha
for ₹87,000 on 30th July 2019. The bill was
drawn on 26th July 2019 for ₹1,00,000 for 90 days after date.
Steps to Solve
- First Bill Preparation
Prepare the details for the bill drawn by Kantilal:
- Drawer: Kantilal, 343/D, Palm Heights, Jogeshwari
- Date of Drawing: 10th Oct. 2019
- Amount: ₹63,490
- Period: 45 days
- Accepted on: 13th Oct. 2019
- Acceptance period: 60 days
- Second Bill Preparation
Prepare the details for the bill drawn by Dinesh:
- Drawer: Dinesh, P. R. Road, Andheri West
- Drawee: Mahesh, L. B. S. Road, Mulund
- Payee: Amit, Thane West
- Date of Bill: 26th Nov. 2019
- Amount: ₹9,500
- Date of Acceptance: 29th Nov. 2019
- Period of Bill: 4 months after sight
- Format of Bill Exchange
Prepare the format for the exchange of the bill accepted by Rahul Sane:
- Drawer: Prithviraj, Icon Heights, Wardha
- Drawee: Rahul Sane, 86-D, Ravivar Peth, Nagpur
- Date of Drawing: 26th July 2019
- Amount of Bill: ₹1,00,000
- Date of Acceptance: 30th July 2019
- Period: 90 days after date
- Bill of Exchange Specimen for Kantilal
Kantilal, 343/D, Palm Heights, Jogeshwari
drew a Bill on 10th Oct. 2019 for ₹63,490
for 45 days. The bill was accepted on 13th Oct. 2019
for 60 days.
- Bill of Exchange Specimen for Dinesh
Drawer: Dinesh, P. R. Road, Andheri West.
Drawee: Mahesh, L. B. S. Road, Mulund.
Payee: Amit, Thane West.
Amount: ₹9,500.
Date of Bill: 26th Nov. 2019.
Date of Acceptance: 29th Nov. 2019.
Period of Bill: 4 months after sight.
- Format of Bill Exchange
Rahul Sane, 86-D, Ravivar Peth, Nagpur accepts
the bill drawn on him by Prithviraj, Icon Heights, Wardha
for ₹87,000 on 30th July 2019. The bill was
drawn on 26th July 2019 for ₹1,00,000 for 90 days after date.
More Information
These documents serve as formal acknowledgements of debt and repayment terms among parties involved in financial transactions, ensuring transparency and accountability.
Tips
- Incorrect Dates: Make sure to double-check the drawing and acceptance dates to avoid discrepancies.
- Missing Information: Ensure all parties' details (names, addresses) are included and correctly formatted.
- Improper Periods: Verify that periods stated match the finance duration mentioned for acceptance.
AI-generated content may contain errors. Please verify critical information
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