Neha sold goods to Rohan ₹42,000 on 6th Sept. 2019. Neha drew a bill of exchange at 3 months for the amount which was accepted by Rohan. Neha discounted the bill with her bankers at 441,000. On the due date of the bill Rohan dishonored the bill and bank paid 4300 as Nothing Charges. Show Journal Entries in the Books of Neha and Rohan.




Show Journal Entries in the Books of Neha and Rohan. 


Solution: 
Journal Entry  
In the Books of Neha (Drawer)

Date 

Particulars 

L/F 

Debit ₹ 

Credit ₹ 

2019 

 

 

 

 

6th Sept. 

Rohan A/c Dr. 

To Sales A/c 

[Being sold goods to Rohan on credit] 

 

42,000 

 

42,000 

1  

Bills Receivable A/c Dr. 

To Rohan A/c 

[Being Rohan accepted the bill at 3 months] 

 

42,000 

 

 

 

42,000 

2 

Bill sent for collection A/c Dr. 

Discount A/c Dr.   

To Bills Receivable A/c 

[Being discounted the bill with bankers at 41,000] 

 

41,000 

1,000 

 

 

42,000 

3 

Rohan A/c Dr. 

To Bill sent for collection A/c 

To Bank A/c  

[Being bill sent for collection dishonored and noting charges paid by bank] 

 

41,300 

 

41,000 

300 

 

 

 

 

 



In the Books of Rohan (Drawee)

Date 

Particulars 

L/F 

Debit ₹ 

Credit ₹ 

2019 

 

 

 

 

6th Sept. 

Purchase A/c Dr. 

To Neha A/c 

[Being purchased goods from neha on credit] 

 

42,000 

 

42,000 

1. 

Neha A/c Dr.\ 

To Bills Payable A/c 

[Being accepted a bill for 3 months]  

 

42,000 

 

 

42,00 

2. 

Bills Payable A/c Dr. 

Noting Charges, A/c Dr. 

To Neha A/c 

[Being acceptance dishonored and Noting charges payable] 

 

41,000 

300 

 

 

41,300 

 

 

 

 

 



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