If the bill of exchange of two month's duration is accepted on 23rd November 1985 its maturity date will be ____________.

23rd Jan 1986

No worries! We‘ve got your back. Try BYJU‘S free classes today!

23rd. Jan 1987

No worries! We‘ve got your back. Try BYJU‘S free classes today!

25th Jan 1986

Right on! Give the BNAT exam to get a 100% scholarship for BYJUS courses

25th Jan 1987

No worries! We‘ve got your back. Try BYJU‘S free classes today!

Open in App

Solution

The correct option is B 25th Jan 1986
Legal Due Date = Date of Bill + Period of Bill + 3 grace Days
Therefore Legal Due Date = 23rd Nov 1985 + 2 months + 3 Grace days
= 23rd Jan 1986 + 3days
=26 Jan 1986 [due to public holiday due date is considered on 25th Jan 1987]

Suggest Corrections

Similar questions

Q. If the bill of exchange of one month's duration is accepted on 23rd December its maturity date will be ____________.

Following was the position of debtor and creditor of Gautam as on 1. 1. 2011.
$\begin{matrix} Items & Debtors & Creditors Babu & 5, 000 & - - - Chanderkala & 8, 000 & - - - Kiran & 13, 500 & - - - Anita & 14, 000 & - - - Anju & - - - & 5, 000 Sheiba & - - - & 12, 000 Manju & - - - & 6, 000 \end{matrix}$
The Following tansactions took place in the month of Jan 2011
Jan 2
Drew on Babu at two months after date at full settlement for Rs. 4,800.
Babu accepted the bill and returned it on 5.1.2011
Jan 4
Babu's Bill discounted for Rs. 4,750.
Jan 8
CHanderkala sent a promissory note for Rs. 8,000 payable three months after date.
Jan 10
Promissory note received from chanderkala discounted for Rs. 7,900.
Jan 12
Accepted sheiba draft for the amount due payable two months after the date
Jan 22
Anita sent his promissory note payable after two months.
Jan 23
Anita's Promissory Note endorsed in favour of Manju.
Jan 25
Accepted Anju's draft payable after three months.
Jan 29
Kiran sent Rs. 2,000 in cash and a promissory note for the balance payable after three months.

Record the above transactions in the proper subsidiary books.

Q. A bill drawn and accepted on 23rd November 1994 for 2 months will be due for payment on _______________.

Q. If the bill of exchange of two month's duration is accepted on 13th June its maturity date will be ____________.

Q. If the bill of exchange of two month's duration is accepted on 15th September its maturity date will be __________.

Join BYJU'S Learning Program

If the bill of exchange of two month's duration is accepted on 23rd November 1985 its maturity date will be ____________.

The correct option is B 25th Jan 1986Legal Due Date = Date of Bill + Period of Bill + 3 grace DaysTherefore Legal Due Date = 23rd Nov 1985 + 2 months + 3 Grace days= 23rd Jan 1986 + 3days=26 Jan 1986 [due to public holiday due date is considered on 25th Jan 1987]

The correct option is B 25th Jan 1986
Legal Due Date = Date of Bill + Period of Bill + 3 grace Days
Therefore Legal Due Date = 23rd Nov 1985 + 2 months + 3 Grace days
= 23rd Jan 1986 + 3days
=26 Jan 1986 [due to public holiday due date is considered on 25th Jan 1987]