Journalise the following transactions int he books of Kedarnath:



 Badrinath informs Kedarnath that Aloknath's Acceptance of Rs. 16,000 endorsed to Badrinath has been dishonoured and noting charges amounted to Rs. 500.

Somnath renews his acceptance of Rs. 14,400 to Kedarnath by paying cash Rs. 4,400 and accepting a new bill for 2 months for the balance plus interest @ 12% p.a.

Vishwanath retired his acceptance for Rs. 10,500 to Kedarnath by paying in cash Rs. 10,250.

Recovered only 50% of the amount due from his private estate of Ramnath, who declared as insolvent, against his bill of Rs. 12,500.

Journal Entries in the books of Kedarnath.

Sr. No.
Particulars
JF
DEBIT
CREDIT
a.
Aloknath's A/c .....Dr.
16500

To Badrinath A/c


16500

[Being the endorsed bill is dishonoured along with Noting Charges]



b. i.
Somnath's A/c .....Dr.

14400


To Bills Receivable A/c


14400

[Being the bill is dishonoured]



ii.
Somnath's A/c .....Dr.

200


To Interest A/c


200

[Being the Interest is charged]



iii.
Cash A/c .....Dr.

4400


To Somnath's A/c


4400

[Being the part – payment is made]



iv.
Bills Receivable A/c .....Dr.

10200


To Somnath's A/c


10200

[Being the new bill is drawn along with interest]



c.
Cash A/c .....Dr.

10250


Rebate A/c .....Dr.

250


To Bills Receivable A/c


10500

[Being the bill is retired]



d.  i.
Ramnath's A/c .....Dr.

12500


To Bills Receivable A/c


12500

[Being the bill is dishonoured]



ii.
Bank A/c .....Dr.

6250


Bad Debts A/c .....Dr.

6250


To Ramnath's A/c


12500

[Being the drawee become insolvent and only 50% of the amount due could be recovered from his estate]