On 1st January, 2016, X drew a bill on Y for Rs. 15,000 payable after 3 months. Y accepted the bill and returned it to X. After 10 days, X endorsed the bill to his creditor Z. On the due date, the bill was dishonoured and Z paid Rs. 300 as noting charges. Record the transactions in the books of X, Y and Z.

On 1st January, 2016, X drew a bill on Y for Rs. 15,000 payable after

1.	On 1st January, 2016, X drew a bill on Y for Rs. 15,000 payable after 3 months. Y accepted the bill and returned it to X. After 10 days, X endorsed the bill to his creditor Z. On the due date, the bill was dishonoured and Z paid Rs. 300 as noting charges. Record the transactions in the books of X, Y and Z.
Answer» On 1st January, 2016, X drew a bill on Y for Rs. 15,000 payable after 3 months. Y accepted the bill and returned it to X. After 10 days, X endorsed the bill to his creditor Z. On the due date, the bill was dishonoured and Z paid Rs. 300 as noting charges. Record the transactions in the books of X, Y and Z.