CBSE Class 11-commerce Answered
Pass journal entries in the books of A.
A sold goods to B for ` 10,000 on December 10, 2018 and drew a
bill for the same amount payable after 3 months. The bill was
accepted by B which was later discounted for ` 9,500 by A on
January 02, 2019. On the due date bill was dishonoured. B paid
` 4,200 immediately including ` 200 as interest and accepted a
new bill for ` 6,000. The new bill was endorsed by A to C, one of
his creditor for ` 6,000. The new bill was duly met by B.
Name the process of transferring entries from the journal to their
respective accounts in the ledger
Asked by amitabhishek65 | 28 Feb, 2020, 01:37: AM
Expert Answer
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The process of transferring transactions recorded in the Journal to a Ledger is called Posting.
Answered by Surabhi Gawade | 28 Feb, 2020, 10:35: AM
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