Interest on renewal of the bill is an expense for the of the bill.

drawer

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drawee

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endorser

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endorsee

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Solution

The correct option is B drawee
Interest on renewal is an expense for the drawee of the bill as he has to pay the interest amount.

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Q. At the time of the renewal of a bill, interest account is ____________ in the books of the drawee.

On 01.01.2007, X draws a bill on Y for Rs. 10,000. At maturity, Y requests X to renew the bill for 2 months for interest at 12% p.a. Amount of interest will be:

In case of renewal, if acceptor does not pay the interest charges then the amount of new bill be ____ with the amount of interest

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Interest on renewal of the bill is an expense for the of the bill.

The correct option is B draweeInterest on renewal is an expense for the drawee of the bill as he has to pay the interest amount.

The correct option is B drawee
Interest on renewal is an expense for the drawee of the bill as he has to pay the interest amount.