Question

Amar sells goods to Bhola for ₹10,000 plus CGST and SGST @ 9% each. he receives the GST amount in cash and draws upon Bhola a bill for the balance amount payable 3 months after date. The bill is accepted by Bhola. Amar discounts the bill with his bank at a discount of ₹150 inclusive of all charges. Bhola fails to meet this bill on maturity. Amar pays off his bank and his expenses amounting to ₹100. Bhola gives a fresh bill of 2 months date to Amar for ₹10,250, which he meets at maturity.
​Show necessary Journal entries in Amar’s books.

Answer 1

Answer:

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