Important Tips for Mastering the Bill of Exchange

This video tutorial covers the Bill of Exchange, explaining its parties, format, and preparation. It provides tips to avoid common mistakes and discusses calculating due dates. The tutorial also covers journal and ledger entries, and addresses special cases like discounting, dishonor, and insolvency. The session concludes with a summary of key concepts and tips.

How should the noting charges be handled in case of a dishonored Bill?

What entries are required when a Bill is renewed?

What is the procedure to follow in case of insolvency of the drawee?