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Mahesh draws a bill on Nilesh for peace 5000 at 3 months Nilesh except and returns it to Mahesh the bill is discounted by Mahesh for rupees 4925 with his bank on maturity Nilesh find himself unable to pay the bill and requests Mahesh to renew it Mahesh accepts the request and draws a new bill at 1 month for rupees 5050 including interest Mahesh deposits this new bill with his bank for collection on the due date Nilesh honours a bills with his bank for collection on the duedate Nilesh honours the bill give journal entries andh show Nilesh account in the books of mahesh?
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Mahesh draws a bill on Nilesh for peace 5000 at 3 months Nilesh except...
Introduction
This is a case of bill of exchange drawn by Mahesh on Nilesh for 5000 rupees at 3 months. The bill was discounted by Mahesh for 4925 rupees with his bank on maturity. Nilesh was unable to pay the bill and requested Mahesh to renew it. Mahesh accepted the request and drew a new bill at 1 month for 5050 rupees including interest. Mahesh deposited this new bill with his bank for collection on the due date. Nilesh honoured the bill with his bank for collection on the due date.

Explanation
The following are the details of the case:

Original Bill of Exchange
- Drawn by Mahesh on Nilesh for 5000 rupees at 3 months.
- Nilesh accepted the bill and returned it to Mahesh.
- Mahesh discounted the bill with his bank for 4925 rupees on maturity.

New Bill of Exchange
- Mahesh accepted Nilesh's request to renew the bill.
- Mahesh drew a new bill at 1 month for 5050 rupees including interest.
- Mahesh deposited this new bill with his bank for collection on the due date.

Honouring of the Bill
- Nilesh honoured the bill with his bank for collection on the due date.

Conclusion
In conclusion, the bill of exchange is a widely used instrument in commercial transactions. The case above illustrates the process of discounting and renewing a bill of exchange. It also shows the importance of honouring the bill on the due date to maintain trust and credibility in business relationships.
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Mahesh draws a bill on Nilesh for peace 5000 at 3 months Nilesh except...
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Mahesh draws a bill on Nilesh for peace 5000 at 3 months Nilesh except and returns it to Mahesh the bill is discounted by Mahesh for rupees 4925 with his bank on maturity Nilesh find himself unable to pay the bill and requests Mahesh to renew it Mahesh accepts the request and draws a new bill at 1 month for rupees 5050 including interest Mahesh deposits this new bill with his bank for collection on the due date Nilesh honours a bills with his bank for collection on the duedate Nilesh honours the bill give journal entries andh show Nilesh account in the books of mahesh?
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Mahesh draws a bill on Nilesh for peace 5000 at 3 months Nilesh except and returns it to Mahesh the bill is discounted by Mahesh for rupees 4925 with his bank on maturity Nilesh find himself unable to pay the bill and requests Mahesh to renew it Mahesh accepts the request and draws a new bill at 1 month for rupees 5050 including interest Mahesh deposits this new bill with his bank for collection on the due date Nilesh honours a bills with his bank for collection on the duedate Nilesh honours the bill give journal entries andh show Nilesh account in the books of mahesh? for Commerce 2024 is part of Commerce preparation. The Question and answers have been prepared according to the Commerce exam syllabus. Information about Mahesh draws a bill on Nilesh for peace 5000 at 3 months Nilesh except and returns it to Mahesh the bill is discounted by Mahesh for rupees 4925 with his bank on maturity Nilesh find himself unable to pay the bill and requests Mahesh to renew it Mahesh accepts the request and draws a new bill at 1 month for rupees 5050 including interest Mahesh deposits this new bill with his bank for collection on the due date Nilesh honours a bills with his bank for collection on the duedate Nilesh honours the bill give journal entries andh show Nilesh account in the books of mahesh? covers all topics & solutions for Commerce 2024 Exam. Find important definitions, questions, meanings, examples, exercises and tests below for Mahesh draws a bill on Nilesh for peace 5000 at 3 months Nilesh except and returns it to Mahesh the bill is discounted by Mahesh for rupees 4925 with his bank on maturity Nilesh find himself unable to pay the bill and requests Mahesh to renew it Mahesh accepts the request and draws a new bill at 1 month for rupees 5050 including interest Mahesh deposits this new bill with his bank for collection on the due date Nilesh honours a bills with his bank for collection on the duedate Nilesh honours the bill give journal entries andh show Nilesh account in the books of mahesh?.
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