Practical Problem 03
Solutions:
Journal Entries In the books of Swati | ||||
Date | Particular | L.F | Amount | Amount |
1 | Bills Receivable A/c………………………………………………………………….Dr | 31,000 | ||
To Jyoti’s A/c | 31,000 | |||
(Being Bill Drawn and acceptance Received) | ||||
2 | Bill Sent to Bank for Collection A/c………………………………………..Dr | 31,000 | ||
To Bill Receivable A/c | 31,000 | |||
(Being Bill Sent to bank for Collection) | ||||
3 | Bank A/c………………………………………………………………………..……….Dr | 30,525 | ||
Bank Charges A/c……………………………………………………………………Dr | 475 | |||
To Bill Sent to bank for Collection A/c | 31,000 | |||
(Being Bill Honored and Bank Charges Paid) | ||||
Total | 93,000 | 93,000 | ||