OMTEX CLASSES: Raja made sales of goods worth Rs. 40000 to Pradhan and received a part payment of Rs. 10000.

Raja made sales of goods worth Rs. 40000 to Pradhan and received a part payment of Rs. 10000.

4. Journal of Raja


Date
Particulars
L.F.
Debit (Rs.)
Credit (Rs. )
1
Cash/Bank A/c ... Dr.

10000


Pradhan’s A/c  .... Dr.

30000


To Sales A/c


40000

[Being the goods sold and part payment received]



2
Bills Receivable A/c ... Dr.

30000


To Pradhan’s A/c


30000

[Being the accptance received from Pradhan]



3
Bills sent to Bank for Collection A/c ... Dr.

30000


To Bills Receivable A/c


30000

[Being the bill sent to the bank for collection]



4
Pradhan’s A/c ... Dr.

30000


To Bill sent to Bank for Collection A/c


30000

[Being the bill is dishonoured]



5
Cash/Bank A/c ... Dr.

15000


Bad debts A/c .... Dr.

15000


To Pradhan’s A/c


30000

[Being 50% of the amount due recovered from Pradhan]




In the Ledger of Raja
Pradhan’s Account

Date
Particulars
Amount
Date
Particulars
Amount
1.
To Sales A/c
[Credit Sales]
30000
2.
By Bills Receivable A/c
(Acceptance Received)
30000
4.
To Bill Sent to Bank for Collection A/c
(Bill sent to the bank)
30000
5.
By Cash / Bank A/c
[Amount recovered]
15000



5.
By Bad debts A/c
(Bad debts incurred)
15000








60000


60000