Write short notes with example on: 

i . Discounting of Bills of exchange
ii. Suspense Account

i. Discounting of Bills of Exchange

A bill of exchange is a written order from one party (the drawer) to another (the drawee) to pay a specified sum to a third party (the payee) at a fixed future date. Discounting a bill means selling it to a bank or financial institution before its maturity date at a discounted price.

Key points:

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