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Question

P draws a bill for Rs 2,000 on Q who accepts and returns it to P on the same date. P sent the bill to his banker for collection. On the due date the bill is dishonoured by Q. Which account shall be debited in drawer`s books?


  1. Bank account

  2. None of these

  3. Q's account

  4. Bill sent for collection account


Solution

The correct option is C

Q's account


The correct entry would be:

Q A/c Dr 2000
    To Bill sent for collection A/c       2000

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