Page 8 - LESSON NOTE
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To Bill Receivables A/c
When the bill had been endorsed by Anju in favour of Sandhya
Manju’s A/c Dr.
To Sandhaya’s A/c
When the bill was discounted by Anju with his bank
Manju’s A/c Dr.
To Bank A/c
When the bill was sent for collection by Anju
Manju’s A/c Dr.
To Bill Sent for Collection A/c
Noting Charges
A bill of exchange should be duly presented for payment on the date of its
maturity. The drawee is absolved of his liability if the bill is not duly presented.
2020-21 Bill of Exchange 293 Proper presentation of the bill means that it should
be presented on the date of maturity to the acceptor during business working hours.
To establish beyond doubt that the bill was dishonoured, despite its due
presentation, it may preferably to be got noted by Notary Public. Noting
authenticates the fact of dishonour. For providing this service, a fees is charged by
the Notary Public which is called Noting Charges.
The entries recorded for noting charges in the drawers book are as follows:
When Drawer himself pays
Drawee’s A/c Dr.
To Cash A/c
