Accounting · Bills of Exchange
X draws a bill on Y for 3,00,000 units on June 1, 2025, for 3 months. Y accepts it. On July 1, X endorses it to Z. On August 1, Z endorses it to W. On September 1, W sends the bill to the bank for collection. On the due date, the bill is dishonored. Noting charges are 1,200 units. W pays the bank and then recovers from Z. Z recovers from X. X finally sues Y. How much will X eventually recover from Y including the original amount, noting charges, and 2,000 units as legal expenses?
Verified Solution4 OptionsUpdated: October 2026👁️1 View
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- 13,02,000 units
- 23,03,200 units✓
- 33,01,200 units
- 43,00,000 units
Correct answer
3,03,200 units
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