 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.
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]
