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Standard XI

Accountancy

Holding till Maturity

On 16th June,...

Question

On 16th June, 2016, A draws a bill on B for Rs. 50,000 for 30 days and 19th July is a public holidays. What will be maturity date of the bill ?

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Solution

Maturity date being a public holiday, the preceding day will be considerd as the maturity date i.e., 18th July, 2016.

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