Question

Anil sold goods to Ravindra for ₹6 000 .Ravindra accepted Anil's bill for ₹6 000 payable after 3 months.After a month Anil discounted the bill with his bank at 10% p.a.On the due date Ravindra dishonoured his acceptance.Ravindra paid ₹ 3 000 to Anil and accepted a fresh bill for 3 months for the balance including interest @8% p.a.Anil sent the bill to bank for collection.On due date Ravindra honoured the bill. Pass the Journal Entries in the books of Anil.

Answer 1

please give me a right answer

Answer 2

Answer:

Explanation:

                                In the books of Anil                                                

                                         JOURNAL ENTRIES

Date Particulars L.f. Amount Dr. Amount Cr.

 Ravindra                                        Dr.   6000  

                                     To Sales a/c     6000

 (Being goods sold to Ravindra)      

         

 Bills receivable a/c                        Dr.   6000  

                                    To Ravindra     6000

 (Being acceptance received from Ravindra for 3 months)      

         

 Bank a/c                                        Dr.   5850  

 Discount a/c                                  Dr.   150  

                                    To Bills receivable a/c     6000

 (Being bill discounted with the bank @ 10% p.a.)      

         

 Ravindra a/c                                  Dr.   6000  

                                   To Bank a/c     6000

 (Being bill dishonoured on due date)