Date

Particulars

L.F.

Debit (Rs.)

Credit (Rs.)

(1)

Manali’s A/c ....... Dr.

40000
 
To Sales A/c

40000
 
[Being the goods are sole]
 
(2)

Bills Receivable A/c .... Dr.

40000
 
To Manali’s A/c

40000
 
[Being the bill is drawn ]
 
(3)

Bank A/c .... Dr.

38800
 
Discount A/c ..... Dr

1200
 
To Bills Receivable A/c

40000
 
[Being the bill is discounted]
 
(4)

Manali’s A/c .... Dr.

40300
 
To Bank A/c

40300
 
[Being the bill is dishonoured and noting charges charged]
 
(5)

Manali’s A/c .... Dr.

750
 
To Interest A/c

750
 
[Being the interest is charged]
 
(6)

Cash A/c ..... Dr.

20300
 
To Manali’s A/c

20300
 
[Being the part payment is made along with Noting charges]
 
(7)

Bills Receivable A/c .... Dr.

20750
 
To Manali’s A/c

20750
 
[Being the new bill is drawn along with interest]
 
(8)

Manali’s A/c .... Dr.

20750
 
To Bills Receivable A/c

20750
 
[Being the bill is dishonoured]
 
(9)

Cash A/c ... Dr.

8300
 
Bad debts A/c .... Dr.

12450
 
To Manali’s A/c

20750
 
[Being the drawee become insolvent and only 40 % of the amount could be recovered from her private estate. ]

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Sold spelling is wrong
ReplyDeleteInterest is calculated on which amount??
ReplyDelete20,000
Delete2nd narration is also wrong it is acceptance received
Delete1200 discount kaise aya
ReplyDelete40000×12/100×4/12 ??
I know right kaise
DeleteCan u tell that
Delete1600 aata ha .
DeleteYe wrong record ha
B cause statement ki 2 line read kro (after a month ) matalab 4 month la discount nhi hoga 3 month la hoga
DeleteIt's 40000×12/100×3/12 = 1200
DeleteYou all are counting interest for 4 months but in question it is given that after one month he discounted bill means we have to calculate interest for 3 months which is 1200
Delete20000 will be multiplied by 15/100 i.e 3000.
Deleteand 3000 will be multiplied by 3/12 i.e 750
How calculate interest ?
ReplyDelete20300×15%×3months =761.25
Apka 750 kaise aya
20300 per nai 20750 per lagega intereste
Delete20750 kaha se aya ??
DeleteIs wrong
Delete20,300 par interest nikle ga
ReplyDelete20,300 kese Aya
DeleteCan you tell me that
DeleteDiscount is 1600
ReplyDeleteYou are recorded wrong ðŸ¤¬
You all are counting interest for 4 months but in question it is given that after one month he discounted bill means we have to calculate interest for 3 months which is 1200
DeleteReply
How to calculate interest on 20300
ReplyDelete