Journalise the following transactions in the books of Jaydeep. [10]

(A) Arvind renews his acceptance of Jaydeep of Rs. 7,000 with interest Rs. 500 for two months.
(B) Bank informed Jaydeep that Mahadev’s acceptance of Rs. 4,000 which was discounted and
dishonoured. Bank charged noting charges Rs. 80.
(C) Hanumant informed Jaydeep that Kazi’s acceptance for Rs. 7,000 endorsed to Hanumant has been dishonoured, noting charges Rs. 85.
(D) Datta honoured his acceptance of Rs. 4,900, which was sent to bank for collection. Bank debited Rs. 100 for bank charges.
(E) Radhika retired her acceptance to Jaydeep of Rs. 9,000 by paying Rs. 8,700.


Answer: Journal Entries in the books of Jaydeep.

Date
Particulars
L.F.
Amount
Rs.
Amount
Rs.
1.
Arvind’s A/c ...... Dr.

7000


To Bills Receivable A/c


7000

[Being the bill is dishonoured]








2.
Arvind’s A/c ...... Dr.

500


To Interest A/c


500

[Being the interest is charged]








3.
Bills Receivable A/c .... Dr.

7500


To Arvind’s A/c


7500

[Being the new bill is drawn along with interest]








4.
Mahadev’s A/c .... Dr.

4080


To Bank A/c


4080

[Being the bill is dishonoured along with noting charges]








5.
Kazi's A/c .....Dr.

7085


To Hanumant's A/c


7085

[Being the endorsed bill is dishonoured along with noting charges]








6.
Bank A/c ..... Dr.

4800


Bank Charges A/c ...... Dr.

100


To Bank for collection A/c


4900

[Being the bill sent to bank for collection has honoured]








7.
Bank A/c ........ Dr.

8700


Rebate A/c ...... Dr.

300


To Bills Receivable A/c


9000

[Being the bill is retired]