a) Bank informed that Aishwarya’s acceptance of ₹22,400 which was discounted had been dishonored and bank paid Nothing Charges ₹220. Bill was renewed at the request of Aishwarya for 2 months with interest of ₹480. b) Received ₹4,630 from private estate of Ankur who was declared insolvent against bill accepted by him for ₹6,000. c) Accepted a bill of ₹15,000 at 3 months drawn by Anushka for the amount due to her ₹20,000 and balance paid by cheque. d) Dishonored our acceptance to Vivek ₹ 27.000 and Nothing Charges paid by Vivek ₹700. Journalise the following transactions in the books of Mrunal: -
Journalize the following transactions in the books of Mrunal: -
a) Bank informed that Aishwarya’s acceptance of ₹22,400 which was discounted had been dishonored and bank paid Nothing Charges ₹220. Bill was renewed at the request of Aishwarya for 2 months with interest of ₹480.
b) Received ₹4,630 from private estate of Ankur who was declared insolvent against bill accepted by him for ₹6,000.
c) Accepted a bill of ₹15,000 at 3 months drawn by Anushka for the amount due to her ₹20,000 and balance paid by cheque.
d) Dishonored our acceptance to Vivek ₹ 27.000 and Nothing Charges paid by Vivek ₹700.
Date | Particulars | J.F | Debit ₹ | Credit ₹ |
a) 1 | Aishwarya’s A/c Dr. To Bank A/c [Being discounted bill dishonored] |
| 24,000 |
24,000 |
2 | Aishwarya A/c Dr. To Bank A/c [Being NothingCharges paid] |
| 220 |
220 |
3 | Aishwarya’s A/c Dr. To Interest A/c [Being due interest amount] |
| 480 |
480 |
4 | Bills Receivable A/c Dr. To Aishwarya A/c [Being new bill accepted from Aishwarya for balance amount] |
| 24,700 |
24,700 |
b) | Cash A/c Dr. Bad Debts A/c dr. To Ankur A/c [Being part amount received and Ankur became insolvent] |
| 4,630 1,370 |
6,000 |
c) | Anushka’s A/c dr. To Bank A/c To Bills Payable A/c [Being accepted a bill for the amount due to her and balance paid by cheque] |
| 20,000 |
5,000 15,000 |
d) | Bills Payable A/c Dr. Nothing Charges A/c Dr. To Vivek A/c [Being dishonored our acceptance to Vivek and Nothing Charges paid by Vivek] |
| 27,000 7,00 |
27,700
|
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