JOURNAL ENTRIES IN THE BOOKS OF RAMESH

JOURNAL ENTRIES IN THE BOOKS OF RAMESH


Date
Particulars
LF
Debit
Credit
? 1.
Ganesh’s A/c …. Dr.

20000


To Sales A/c


20000

[Being the goods are sold]








2.
Bills Receivable A/c …. Dr.

20000


To Ganesh’s A/c


20000

[Being the bill is drawn]








3.
Ganesh’s A/c …. Dr.

20000


To Bills Receivable A/c


20000

[Being the bill is dishonoured]








4.
Ganesh’s A/c ….. Dr.

200


To Interest A/c


200

[Being the interest is charged]








5.
Cash A/c …. Dr.

10000


To Ganesh ‘s A/c


10000

[Being the part payment is made]








6.
Bills Receivable A/c …. Dr.

10200


To Ganesh’s A/c


10200

[Being the new bill is drawn along with interest]








7.
Bank A/c …. Dr.

9500


Rebate A/c ….Dr.

300


To Bills receivable A/c


10200

[Being the new bill is retired]