Explanation:

Background Information:
On 1st July 2019, a bill of Rs. 5000 was issued with a maturity period of 3 months. The bill was discounted with the bank for Rs. 4850 on the maturity date. However, the acceptor of the bill failed to pay the amount on the maturity date, resulting in the bank having to pay Rs. 50 as noting charges.

Key Steps:
To understand the situation and its implications, let's break down the key steps involved in this scenario:

1. Issuance of Bill:
- On 1st July 2019, a bill of Rs. 5000 was issued by the creditor to the debtor.
- The bill was payable after 3 months, which means the maturity date was after 3 months from the issuance date.

2. Discounting the Bill:
- On the maturity date, the creditor decided to discount the bill with the bank.
- The bank agreed to pay Rs. 4850 to the creditor in exchange for the bill.
- This means that the bank deducted a discount of Rs. 150 (Rs. 5000 - Rs. 4850) from the face value of the bill.

3. Non-Payment by the Acceptor:
- Unfortunately, the acceptor of the bill failed to pay the amount on the maturity date.
- As a result, the bank had to bear the loss and pay the face value of the bill to the creditor, which was Rs. 5000.

4. Noting Charges:
- Additionally, the bank had to pay Rs. 50 as noting charges.
- Noting charges are the charges incurred by the bank for noting the non-payment of the bill by the acceptor.

Summary:
In summary, the creditor issued a bill of Rs. 5000 with a maturity period of 3 months. On the maturity date, the bill was discounted with the bank for Rs. 4850. However, the acceptor of the bill failed to pay the amount, resulting in the bank having to pay Rs. 50 as noting charges. This situation highlights the risk involved in accepting bills and the consequences of non-payment.