Journal Entries in the Books
of Prakash
Date

Particulars

LF

Debit
(Rs)

Credit
(Rs)

1.2.89

Bills Receivable A/c ....Dr


4000



To Mukund's A/c



4000


[Being the bill is drawn]




4.3.89

Mukund's A/c ....Dr


4000



To Bills Receivable A/c



4000


[Being the bill is dishonoured]




4.3.89

Mukund's A/c ....Dr


75



To Interest A/c



75


[Being the Interest is Charged]




4.3.89

Cash A/c ....Dr


1000



To Mukund's A/c



1000


[Being the part – payment is made]




4.3.89

Bills Receivable A/c ....Dr


3075



To Mukund's A/c



3075


[Being the bill is drawn along with Interest]




1.6.89

Bank A/c ....Dr


3045



Rebate A/c ....Dr


30



To Bills Receivable A/c



3075


[Being the new bill is retired]




In the Books of Mukund
Prakash's A/c
Date

Particulars

J
F

Amount

Date

Particulars

J
F

Amount

1.2.89

To Bills Payable A/c


4000

1.2.89

By Balance b/d


4000

4.3.89

To Cash A/c


1000

4.3.89

By Bills Payable A/c


4000

4.3.89

To Bills Payable A/c


3075

4.3.89

By Interest A/c


75




8075




8075
