Date
|
Particulars
|
L
F
|
Debit
|
Credit
|
? 1
|
Rupali’s A/c………Dr.
To Sales A/c
(Being the goods are sold)
|
25000
|
25000
| |
2
|
Cash / bank a/c ………Dr
Bills Receivable A/c ……… Dr.
To Rupali’s A/c
(Being the part payment is made and bill is drawn)
|
10000
15000
|
25000
| |
3
|
Cash/ Bank A/c ……… Dr.
Discount A/c ………… Dr.
To Bills Receivable A/c
(being the bill is discounted)
|
14700
300
|
15000
| |
4
|
Rupali’s A/c ……… Dr
To Cash/Bank A/c
(being the bill is dishonored)
|
15000
|
15000
| |
5
|
Cash/ bank a/c………… Dr
To Rupali’s A/c
(being the part payment is made)
|
5000
|
5000
| |
6
|
Rupali’s A/c ……… Dr.
To Interest a/c
(being the interest is charged on balance amount)
|
200
|
200
| |
7
|
Bills Receivable A/c ………… Dr.
To Rupali’s A/c
(being the new bill is drawn along with interest)
|
10200
|
10200
| |
8
|
Cash/ bank a/c ……… Dr.
To Bills receivable a/c
(being the new bill is honored)
|
10200
|
10200
|
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Anjali of Nagpur sold goods worth Rs. 25,000 to Rupali of Amaravati. On next day Ruapali paid Rs. 10,000 in cash and accepted two months bill for the balance drawn by Anjali. Anjali discounted the bill at 12% p.a. with her bank. Before due date, Rupali finds herself unable to make payment of the bill; and requests Anjali to renew it. Anjali accepts the proposal on the condition that Rupali should pay Rs. 5,000 in cash and accept new bill for one month along with interest Rs. 200 for the balance. These arrangements were carried through. The new bill was met on due date. Give journal entries in the books of Anjali.
Journal Entries in the books of Anjali