Practical Problem 14

Practical problem | Q 14 | Page 307

Journalise the following transactions in the books of Sudha:-

a) Endorsed Sonali’s acceptance at 2 months for ` 6,000 in favour of Urmila and paid cash ` 3,500 in

full settlement of her account ` 10,000.

b) Discounted 2 months acceptance of Surya for ` 7,800 with bank at 10% p.a.

c) Bank informed that Anuradha’s acceptance of ` 4,800 which was discounted was dishonoured and bank

paid Noting Charges ` 125.

d) Pooja honoured her acceptance of ` 16,400 which was deposited into bank for collection.

Journal Entries In the books of Sudha
Date	Particular	L.F	Amount	Amount

a	Urmila A/c………………………………………………………………………………..Dr		10,000
	To Cash A/c			3,500
	To Discount A/c			500
	To Bills Receivable A/c			6000
	(Being Sonali Acceptance endorsee in favour of Urmila and
	discount Received in full settlement of account)
b	Bank A/c…………………………………………………………………………………..Dr		7,670
	Discount A/c…………………………………………………………………………….Dr		130
	To Bills Receivable A/c			7,800
	(Being Surya Acceptance discounted with bank)

c	Anurada A/c…………………………………………………………………………….Dr		4,925
	To Bank A/c			4,925
	(Being Bill discounted with bank dishonoured)

d	Bank A/c………………………………………………………………………………….Dr		16,400
	To Bank for Collection A/c			16400
	(Being Bill sent to bank for collection honoured)
	Total		39,125	39,125