Journalize the following transactions in the books of Maharaja.



·         Ayub informs Maharaja that Sadashiv’s acceptance for Rs. 2,000 endorsed to Ayub has been dishonoured, noting charges amounted to Rs. 150
·         Pankaj renews his acceptance to Maharaja for Rs. 1200 by paying Rs. 400 in cash and accepting a fresh bill for the balance plus interest at 12% p.a. for 3 months.
·         Vaibhav’s acceptance to Maharaja for Rs. 6000 retired one month before the due date at a discount of 12%p.a.


·        Bank informs Maharaja as to the dishonour of Kasam’s acceptance for Rs. 2000 to Maharaja discounted with Bank noting charges Rs. 200.

Sr. No.
Particulars
JF
Debit
Credit





1.
Sadhashiv's A/c ... Dr.

2150


To Ayub's A/c


2150

[Being the Endorsed bill is dishonoured along with noting charges.








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

1200


To Bill's Receivable A/c


1200

[Being the Bill is dishonoured]








3.
Cash A/c .... Dr.

400


To Pankaj's A/c


400

[Being the Part payment is made]








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

24


To Interest A/c


24

[Being the interest is charged on Balance Amount]








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

824


Pankaj's A/c


824

[Being the new bill is drawn along with interest]








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

5940


Rebate A/c ... Dr.

60


To Bills Receivable A/c


6000

[Being the Bill is retired one month before]








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

2200


To Bank A/c


2200

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