Accommodation bills are drawn, accepted and endorsed without any consideration.
Prepare the bills payable account from the following and find out missing figure if any :
Rs
Bills accepted
1,05,000
Discount received
17,000
Purchases returns
9,000
Return inwards
12,000
Cash paid to accounts payable
50,000
Bills receivable endorsed to creditor
45,000
Bills dishonoured
Bad debts
14,000
Balance of accounts payable (closing)
85,000
Credit purchases
2,15,000