Question

Azad sold goods for Rs 15,000 to Bunty and immediately drew a bill upon him on march 01, 2019 payable after 3 months. The bill was endorsed by Azad in favour of his creditor Chitra. On maturity the bill was dishonoured b and Rs 50 were paid by the holder of the bill as noting charges. Give journal entries in the books of Azad.           


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Answer 1

Answer:

Journal in books of Azad

2019

mar.1

Bunty. dr 15000

To sales account. 15000

mar.1. Bill receivable account dr 15000

To Bunty. 15000

mar 1. Chitra. dr. 15000

To bills receivable 15000

4june. Bunty. dr 15050

To Chitra 15050