R had the following bills receivable and bills payable against S. Calculate average due date when the payment can be made or received without any loss or gain of interest to either party. Bills Receivable Bills Payable Date of Bill Атоunt ($) Tenure in months Date of the Bill Атоunt ($) Tenure in months 6,000 9,000 10,000 7,000 11,000 29-5-2015 2 9,000 7,500 10,000 8,000 12,000 1-6-2015 5-6-2015 3-6-2015 9-6-2015 1 10-6-2015 12-6-2015 13-6-2015 2 20-6-2015 3 27-6-2015 1 Holiday intervening in the period 15th August, 2015, 16th August, 2015, and 6th September, 2015.

R had the following bills receivable and bills payable against S. Calculate average due date when the payment can be made or received without any loss or gain of interest to either party. Bills Receivable Bills Payable Date of Bill Атоunt ($) Tenure in months Date of the Bill Атоunt ($) Tenure in months 6,000 9,000 10,000 7,000 11,000 29-5-2015 2 9,000 7,500 10,000 8,000 12,000 1-6-2015 5-6-2015 3-6-2015 9-6-2015 1 10-6-2015 12-6-2015 13-6-2015 2 20-6-2015 3 27-6-2015 1 Holiday intervening in the period 15th August, 2015, 16th August, 2015, and 6th September, 2015.

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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Subject : Accounting