2. On September 30, 2011, Atso draws a bill of 1,500 on Nise. Nise accepts this bill immediately and returns it to Atso. The bill is due for 3 months after the date. Prepare the journal entries.(Book keeping practical question
Answers
Answer:
Grewal 2019 Solutions. All Double Entry Book Keeping Ts Grewal 2019 Solutions for class Class 11 Commerce Accountancy are prepared by experts and are 100% accurate.
Answer:
Explanation:
JOURNAL ENTRIES IN THE BOOK OF ATOS
DATE PARTICULARS L.F DR AMT CR AMT
2011 BILLS RECEIVABLE A/C DR 1,500
30/09 TO NICE A/C 1,500
( BEING THE ACCEPTANCE OF BILL
RECEIVED)
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2012 BANK A/C DR 1,500
02/01 TO BILLS RECEIVABLE 1,500
( BEING RETIREMENT OF BILL BY
BHAVIKA FOR 3 MONTHS BEFORE
MATURITY)
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JOURNAL ENTRIES IN THE BOOK OF NICE
DATE PARTICULARS L.F DR AMT CR AMT
2011 ATOS A/C DR 1,500
30/09 TO BILLS PAYABLE A/C 1,500
( BEING THE ACCEPTANCE OF
THE BILL)
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2012 BILLS PAYABLE A/C DR 1,500
02/01 TO BANK A/C 1,500
( BEING THE RETIREMENT OF THE
BILLFOR 3 MONTHS BEFORE MATURITY)
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