Page 303 - VIRANSH COACHING CLASSES

In the books of Sanjay
Journal

Date Particulars L. F. Debit Credit
Amount ` Amount `
1. Govind’s A/c .......................................................Dr. 27,000
Cash A/c .............................................................Dr. 12,500
Discount A/c ........................................................Dr. 1,000
To Sales A/c 40,500
(Being goods sold on credit and cash subject to Trade
discount and cash discount)
2. Bills Receivable A/c ..........................................Dr. 27,000
To Govind’s A/c 27,000
(Being acceptance received)

3. Aadesh’s A/c .......................................................Dr. 27,500
To Bill Receivable A/c 27,000
To Discount A/c 500
(Being Govind’s acceptance endorsed in full
settlement)
4. Govind’s A/c .......................................................Dr. 27,450
Discount A/c 500
To Aadesh’s A/c 27,950
(Being Govind’s acceptance endorsed in full
settlement dishonoured and discount cancelled)
5. Govind’s A/c .......................................................Dr. 1,500
To Interest A/c 1,500
(Being interest due)
6. Cash / Bank A/c ..................................................Dr. 5,700
To Govind’s A/c 5,700
(Being cash received along with noting charges)

7. Bills Receivable A/c ...........................................Dr. 23,250
To Govind’s A/c 23,250
(Being new bill drawn along with interest and
acceptance received)
8. Aadesh’s A/c .......................................................Dr. 27,950
To Cash / Bank A/c 27,950
(Being cash paid to Aadesh)
9. Govind’s A/c .......................................................Dr. 23,250
To Bills Receivable A/c 23,250
(Being Govind’s acceptance dishonoured)

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