Practical Problem 06

Journal Entries In the books of Sangeeta
Date	Particular	L.F	Amount	Amount
1	Geeta’s A/c………………………………………………………………………………….Dr		18,000
	To Bills Payable A/c			18,000
	(Being Our acceptance is given)

2	Bills Payable A/c……………………………………………………………………………………Dr		18,000
	To Geeta’s A/c			18,000
	(Being Bill Cancelled on our request)

3	Interest A/c……………………………………………………………………………………Dr		550
	To Geeta’s A/c			550
	(Being Interest due on balance amount to be paid)

4	Geeta’s A/c ……………………………………………………………………..Dr		6,000
	To Bank A/c			6,000
	(Being Part Payment Made)

5	Geeta’s A/c……………………………………………………………………….Dr		12,550
	To New Bills Payable A/c			12,550
	(Being acceptance given for balance amount along with interest)

6	New Bills Payable A/c ………………………….…………………………..Dr		12,550
	To Geeta’s A/c			12,550
	( Being New bill Dishonored)

7	Geeta’s A/c ………………………………………………………………………..Dr		12,550
	To Cash A/c			4,393
	To Deficiency A/c			8157
	(Being 35% of the amt due paid and balance credited to deficiency A/c)
	Total		80,200	80,200