Question

Ajay draws a bill on Vinay for ₹ 60,000. Vinay accepts it. Ajay endorses it to Chintu in settlement of ₹ 70,000 at 2% discount and the balance in cash. The bill is dishonoured on due date. Calculate the amount by which Ajay is to be debited in the books of Chintu.

A ₹ 61,400
B ₹ 60,000
C ₹ 68,600
D ₹ 70,000
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