CBSE Class 11-commerce Answered
A sold goods to B for Rs.4,000 and drew a bill for the amount due at 3 months for the amount. B after giving his acceptance returned the bill to A. A discounted it from his bank for Rs.3,900. On due date, bill returned dishonoured and bank paid Rs.50 as noting charges. Give journal entries in the books of A only.
Asked by Topperlearning User | 01 Jul, 2016, 04:02: PM
Expert Answer
A’s Journal
Particulars |
|
|
L.F. |
Dr. Rs. |
Cr. Rs. |
B A/c |
|
Dr. |
|
4,000 |
|
To Sales A/c |
|
|
|
|
4,000 |
(Being the goods sold on credit) |
|
|
|
|
|
Bills Receivable A/c |
|
Dr. |
|
4,000 |
|
To B A/c |
|
|
|
|
4,000 |
(Being the acceptance received) |
|
|
|
|
|
|
|
|
|
|
|
Bank A/c |
|
Dr. |
|
3,900 |
|
Discounting charges A/c |
|
Dr. |
|
100 |
|
To Bills Receivable A/c |
|
|
|
|
4,000 |
(Being the bill discounted) |
|
|
|
|
|
B’s A/c |
|
Dr. |
|
4,050 |
|
To Bank A/c |
|
|
|
|
4,050 |
(Being the bill dishonoured and noting charges Rs.50 paid by bank) |
|
|
|
|
|
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