Journal Entries in the Books
of Ronaldo.
Date

Particulars

LF

Debit (Rs. )

Credit (Rs.)

1

Ricardo's A/c ..... Dr.


80000



To Bills Payable A/c



80000


[Being the bill is
accepted]




2

Bills Payable A/c .....
Dr.


80000



To Ricardo's A/c



80000


[Being the bill is
dishonoured]




3

Noting charges A/c .....
Dr.


300



To Ricardo's A/c



300


[Being the Noting Charges
is Charged]




4

Interest A/c ..... Dr.


1700



To Ricardo's A/c



1700

5

Ricardo's A/c ..... Dr.


82000



To Bills Payable A/c



82000


[Being the new bill is
accepted together with noting charges and interest]




6

Bills Payable A/c .....
Dr.


82000



To Bank A/c



81600


To Discount A/c



400


[Being the new bill is
retired]



