chandra drew a bill for Rs 5000 at 3 months on rana rana accepted the same and sent it to chandra chandra deposited the same with his bankers for collection the bill was dishonoured on presentation on the due date bank incurred Rs 10 as noting charges give journal entries in the book of both the parties
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in the books of Chandra account
bill receivable a/c dr 5,000
to Rana a/c 5,000
bill sent for collection a/c dr 5,000
to bill receivable a/c 5,000
Rana a/c dr 5,010
to bill sent for collection a/c 5010
in the books of Rana
Chandra a/c dr
to bills payable a/c
bills payable a/c dr 5,000
noting charges a/c dr 10
to Chandra a/c 5010
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