Practical Problem 15
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 Ashwarya) | ||||
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 Chrges 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 | ||