Page 282 - VIRANSH COACHING CLASSES

In the books of Pallavi
Journal
Date Particulars L. F. Debit Credit
Amount ` Amount `
2019 Vandana’s A/c ....................................................Dr. 22,500
Feb. 16 To Sales A/c 22,500
(Being goods sold on credit at 10% Trade Discount)
Feb. 16 Bills Receivable A/c ...........................................Dr. 22,500
To Vandana’s A/c 22,500
(Being bill drawn and acceptance received)
Feb. 18 Purva’s A/c ........................................................Dr. 22,500
To Bills Receivable A/c 22,500
(Being Vandana’s acceptance endorsed)

a) May 19 No Entry
b) May 19 Vandana’s A/c ....................................................Dr. 22,500
To Purva’s A/c 22,500
(Being Vandana’s acceptance endorsed dishonoured)

c) May 19 Vandana’s A/c ....................................................Dr. 22,675
To Purva’s A/c 22,675
(Being Vandana’s acceptance endorsed dishonoured
and noting charges paid by Purva)

In the books of Vandana
Journal

Date Particulars L. F. Debit Credit
Amount ` Amount `
2019 Purchases A/c .................................................... Dr. 22,500
Feb. 16 To Pallavi’s A/c 22,500
(Being goods purchased on credit at 10% Trade
Discount)
Feb. 16 Pallavi’s A/c ....................................................... Dr. 22,500
To Bills Payable A/c 22,500
(Being our acceptance given)
a) May 19 Bills Payable A/c ............................................... Dr. 22,500
To Cash / Bank A/c 22,500
(Being our acceptance honoured on the due date)
b) May 19 Bills Payable A/c ............................................... Dr. 22,500
To Pallavi’s A/c 22,500
(Being our acceptance dishonoured on the due date)

c) May 19 Bills Payable A/c ................................................ Dr. 22,500
Noting Charges A/c ............................................. Dr. 175
To Pallavi’s A/c 22,675
(Being our acceptance dishonoured and Noting
Charges payable

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