Journalize the following transactions in the books of Kamesh:


  • Nanda informs Kamesh that Shanti’s acceptance for Rs. 4,000 endorsed to Nanda has been dishonoured and noting charges have been Rs. 100. 
  • Ashok renews his acceptance to Kamesh for Rs. 2400 by paying Rs. 800 in cash and accepting a new bill for the balance plus interest @ 12 p.a. for 3 months.
  • Deva’s acceptance to Kamesh Rs. 12,000 is retired one month before its due date at a discount of 12% p.a.
  • The bank informs Kamesh that Sudhakar’s acceptance for Rs. 4,000 has been dishonoured and it has paid noting charges Rs. 80.

Journalize the following transactions in the books of Kamesh: 

Sr. No.
Particulars
L.F
Debit (Rs.)
Credit (Rs.)
1.
Shanti's A/c ... Dr.

4100


To Nanda's A/c


4100

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













2.
Ashok's A/c .... Dr

2400


To Bills Receivable A/c


2400

[Being the Bill is dishonoured]













3.
Cash A/c ... Dr.

800


To Ashok's A/c


800

[Being the Part Payment is Made]













4.
Ashok's A/c .... Dr.

48


To Interest A/c


48

[Being the Interest is charged @12% p.a. for 3 months on Remaining amount of Rs. 1800]













5.
Bills Receivable A/c ... Dr.

1648


To Ashok's A/c


1648

[Being the new bill on remaining amount is drawn along with interest]













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

11880


Rebate's A/c .... Dr.

120


To Bills Receivable A/c


12,000

[Being Deva's acceptance is retired before one month @ 12% p.a.]













7.
Sudhakar's A/c ....Dr.

4080


To Bank A/c


4080

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