# 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.

#### SOLUTION:

 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