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Anand sold goods to Balwant as detailed below The payments were agreed to be made by bills payable 90 days from the respect dates of the invoice. However, Balwant wanted to arrange for payment of all the bills to be made on a single date: Calculate the date on which such a payment could be made without any loss of interes to either party.?
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Anand sold goods to Balwant as detailed below The payments were agreed...
Solution:

Given:
Payments to be made by bills payable 90 days from the respective dates of the invoice.

To find:
The date on which a single payment can be made without any loss of interest to either party.

Calculation:
Let's assume the respective dates of the invoices as:
Invoice 1 - 1st January 2021
Invoice 2 - 15th January 2021
Invoice 3 - 1st February 2021

The due dates for payment of bills payable will be:
Invoice 1 - 1st April 2021
Invoice 2 - 15th April 2021
Invoice 3 - 1st May 2021

To make a single payment, we need to find the latest due date among all the invoices. The latest due date is 1st May 2021.

Therefore, the payment can be made on 1st May 2021 without any loss of interest to either party.

Explanation:
When the payments are made through bills payable, the seller can discount the bills with the bank to get immediate cash. The discounting charges will be borne by the seller. If the buyer delays the payment beyond the due date, the seller will lose the interest for the delayed period.

In this case, if the buyer arranges for a single payment on or before 1st May 2021, the seller will not lose any interest for the delayed payment. Similarly, the buyer will not have to pay any extra charges for the delayed payment.

Conclusion:
Hence, the date on which a single payment can be made without any loss of interest to either party is 1st May 2021.
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Anand sold goods to Balwant as detailed below The payments were agreed to be made by bills payable 90 days from the respect dates of the invoice. However, Balwant wanted to arrange for payment of all the bills to be made on a single date: Calculate the date on which such a payment could be made without any loss of interes to either party.?
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Anand sold goods to Balwant as detailed below The payments were agreed to be made by bills payable 90 days from the respect dates of the invoice. However, Balwant wanted to arrange for payment of all the bills to be made on a single date: Calculate the date on which such a payment could be made without any loss of interes to either party.? for CA Foundation 2024 is part of CA Foundation preparation. The Question and answers have been prepared according to the CA Foundation exam syllabus. Information about Anand sold goods to Balwant as detailed below The payments were agreed to be made by bills payable 90 days from the respect dates of the invoice. However, Balwant wanted to arrange for payment of all the bills to be made on a single date: Calculate the date on which such a payment could be made without any loss of interes to either party.? covers all topics & solutions for CA Foundation 2024 Exam. Find important definitions, questions, meanings, examples, exercises and tests below for Anand sold goods to Balwant as detailed below The payments were agreed to be made by bills payable 90 days from the respect dates of the invoice. However, Balwant wanted to arrange for payment of all the bills to be made on a single date: Calculate the date on which such a payment could be made without any loss of interes to either party.?.
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