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4. (a) Vinaya’s A/c ........................................................Dr. 9,200
Discount A/c ........................................................Dr. 920
Cash A/c ..............................................................Dr. 8,280
To Sales A/c 18,400
(Being goods sold on cash and credit)
4.(b) Bill Receivable A/c .............................................Dr. 9,200
To Vinaya’s A/c 9,200
(Being bill drawn and acceptance received)
Calculation for transaction No. 4
Gross Price = ` 20,200

(-) 8% T. D. = ` 1,600
` 18,400

(50%) Cash Credit (50%)
` 9,200 ` 9,200
(-) C.D.10% ` 920

` 8,280
Cash received

14. Jouranlise the following transactions in the books of Mayur.
1. Vishwas renewed his acceptance to Nitesh for ` 22,000 by paying ` 12,000 in cash and accept-
ing a fresh bill for the balance with interest @12% p.a. for 2 months.
2. honoured our acceptance to Ashwin of ` 17,750 by endorsing Hari’s acceptance of ` 17,500 in
full settlement.
3. Prakash who accepted Mayur’s bill for ` 21,000 was declared insolvent and only 25% of the
amount could be recovered from his esatae.
4. Bank informed us that Shailaja’s acceptance for ` 32,000 sent to bank for collection had been
dishonoured and noting charges paid were ` 275.
In the books of Mayur
Journal

Date Particulars L. F. Debit Credit
Amount ` Amount `
1. (a) Vishwas’s A/c ......................................................Dr. 22,000
To Bills Payable A/c 22,000
(Being bill cancelled for renewal
(b) Vishwas’s A/c ......................................................Dr. 200
To Interest A/c 200
(Being part payment received)
(c) Bank A/c .............................................................Dr. 12,000
Vishwas’s A/c 12,000
(Being part payment received)

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