Journal Entries in the Books
of Tushar
Date

Particulars

LF

Debit
(Rs)

Credit
(Rs)

? 1

Ameet's A/c ....Dr.


7500



To Bills Payable A/c



7500


[Being the bill is accepted]




2

Bills Payable A/c ....Dr.


7500



To Ameet's A/c



7500


[Being the bill is dishonoured]




3

Interest A/c ....Dr.


200



To Ameet's A/c



200


[Being the Interest is charged]




4

Ameet's A/c ....Dr.


4700



To Bank A/c



4700


[Being the part payment is made]




5

Ameet's A/c ....Dr.


3000



To Bills Payable A/c



3000


[Being the part payment is made]




6.

Bills Payable A/c ....Dr.


3000



Bank A/c ....Dr.



2960


To Discount A/c



40


[Being the new bill is retired]




In the Books of Ameet
Tushar's A/c
Date

Particulars

J
F

Amount

Date

Particulars

J
F

Amount

?

To Balance b/d


7500

1.

By Bills Receivable A/c


7500

2.

To Bills Receivable A/c


7500

4.

By Bank A/c


4700

3.

To Interest A/c


200

5

By Bills Receivable A/c


3000




15200




15200
