# Practical Problem 15

Practical problem | Q 15 | Page 307

 Journalise the following transactions in the books of Mrunal :- a) Bank informed that Aishwarya’s acceptance of  24,000 which was discounted had been dishonoured and bank paid Noting 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) Dishonoured our acceptance to Vivek  27,000 and Noting Charges paid by Vivek ` 700.

#### SOLUTION:

 Journal Entries In the books of Mrunal Date Particular L.F Amount Amount 2019 a Aishwarya A/c…………………………………………………………………………Dr 24,220 To Bank A/c 24,220 (Being Bill Discounted with Bank Dishonoured & noting charges paid) Aishwarya A/c……………………………………………………………………………..Dr 480 To Interest A/c 480 (Being Interest charged on balance due Amount) Bill Receivable A/c…………………………………………………………………..Dr 24700 To Aishwarya A/c 24700 (Being New bill acceptance received from Aishwarya) b Cash A/c……………………………………………………………………………………Dr 4,630 Bad Debts A/c…………………………………………………………………………..Dr 1,370 To Ankur A/c 6000 (Being cash received from Ankur and Balance amount written off) c Anushka A/c……………………………………………………………………………..Dr 20,000 To Bill Payable A/c 15000 To Bank A/c 5000 (Being Our acceptance and cheque given against due) d Bill Payable A/c………………………………………………………………………..Dr 27,000 Noting Charges A/c….………………………………………………………………..Dr 700 To Vivek A/c 27700 (Being Our Acceptance dishonoured and Vivek paid noting charges) TOTAL 1,03,100 1,03,100