Date
|
Particulars
|
LF
|
Debit (Rs.)
|
Credit (Rs.)
|
1.3.14
|
Raju's A/c …… Dr.
|
|
10000
|
|
|
To Sales A/c
|
|
|
10000
|
|
[Being the goods are sold]
|
|
|
|
1.3.14
|
Bills Receivable A/c ..... Dr.
|
|
10000
|
|
|
To Raju's A/c
|
|
|
10000
|
|
[Being the Bill is drawn]
|
|
|
|
1.3.14
|
Bank A/c ..... Dr.
|
|
9750
|
|
|
Discount A/c .... Dr.
|
|
250
|
|
|
To Bills Receivable A/c
|
|
|
10000
|
|
[Being the bill is discounted]
|
|
|
|
4.6.14
|
Raju's A/c ...... Dr.
|
|
10000
|
|
|
To Bank A/c
|
|
|
10000
|
|
[Being the discounted bill is dishonoured]
|
|
|
|
4.6.14
|
Raju's A/c ....Dr.
|
|
150
|
|
|
To Interest A/c
|
|
|
150
|
|
[Being the interest is charged]
|
|
|
|
4.6.14
|
Bank A/c ... Dr.
|
|
4000
|
|
|
To Raju's A/c
|
|
|
4000
|
|
[Being the part payment is made]
|
|
|
|
4.6.14
|
Bills receivable A/c ......Dr.
|
|
6150
|
|
|
To Raju's A/c
|
|
|
6150
|
|
[Being the new bill is drawn along with interest]
|
|
|
|
7.9.14
|
Bank A/c ..... Dr.
|
|
6150
|
|
|
To Bills Receivable A/c
|
|
|
6150
|
|
[Being the new bill is duly honoured]
|
|
|
|
Advertisement
On 1st March, 2014. Bheem sold goods to Raju worth Rs. 10,000/- and Raju accepted the Bill for Rs. 10,000/- at 3 months drawn by Bheem. Bheem discounted the bill with his bank @ 10% p.a. On due date the bill was dishonoured and Raju requested Bheem to accept Rs. 4,000/- immediately and draw upon him a new bill for the remaining amount at 3 months together with an interest @ 10% p.a. Bheem agreed. The second Bill was duly honoured. Give Journal entries in the books of Bheem.
Journal Entries in the Books of Bheem (Drawer)