Page 289 - VIRANSH COACHING CLASSES

In the books of Akash
Journal
Date Particulars L. F. Debit Credit
Amount ` Amount `
2019 Bills Receibable A/c ..........................................Dr. 25,000
Dec. 23 To Deepak’s A/c 25,000
(Being bill drawn on Deepak for 3 months adn
acceptance received)
a) 2020 Cash / Bank A/c ..................................................Dr. 25,000
Mar. 26 To Bills Receivable A/c 25,000
(Being Deepak’s acceptance hounoured on the due
date)
b) 2019 Bank A/c .............................................................Dr. 24,625
Dec. 23 Discount A/c ........................................................Dr. 375
To Bills Receivable A/c 25,000
(Being Deepak’s acceptance disounted with the bank
at 6% p.a. for 3 months)
c) 2019 Bill sent for collection A/c ................................Dr. 25,000
Dec. 23 To Bills Receivable A/c 25,000
(Being Deepak’s acceptance sent to the bank for
collection)
2019 Bank A/ ...............................................................Dr. 25,000
Mar. 26 To Bill sent for Collection A/c 25,000
(Being bill honoured on the due date)
d) 2019 Viren’s A/c ........................................................Dr. 25,000
Dec. 23 To Bill Receivable A/c 25,000
(Being Deepak’s acceptance endorsed to Viren)

In the books of Deepak
Journal
Date Particulars L. F. Debit Credit

Amount ` Amount `
2019 Akash’s A/c .......................................................Dr. 25,000
Dec. 23 To Bill Payable A/c 25,000
(Being bill accepted)
2020 Bill Payable A/c ..................................................Dr. 25,000
Mar. 26 To Cash / Bank A/c 25,000
(Being our acceptance honoured on the due date)

Note : In case of b, c and d enties in the Books of Drawee will be same as above.

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