Question

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4. On 1st Sept. 2015, M sold goods to N for 8,800 on credit and drew two bills, one for 5,000
for 2 months and the second is for the balance amount for 3 months. Both the bills were
accepted and duly paid on the respective due dates. Pass Journal entries in the books of both
the parties.​

Answer 1

Answer:

N A/C DR

TO SALES A/C

B/R A/C DR

TO N A/C

Answer 2

Answer:

1st one is the books of M (Seller)

AND

2nd one is the books of N (Buyers)

Explanation:

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