Question

Aman received a bill from Sahil for ₹1,000. On

maturity, the bill is dishonored and ₹10 are paid as noting charges. Aman has endorsed this bill in favor of Anil. The correct entry for the dishonored bill in Aman's books will be:

A Debit Sahil and Credit Aman (with the amount ₹1,000)

B Debit Sahil and Credit Anil (with the amount ₹1,010)

C Credit Sahil and Debit Anil (with the amount ₹1,010)

D Credit Sahil and Debit Aman (with the amount ₹1,000)

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Aman received a bill from Sahil for ₹1,000. On

Solution