Question

Give journal entry for 1.sold office furniture costing Rs.600 to Amar .He paid Rs.360 in cash and accepted a bill for the balance amount . 2.debtor of Rs .10,000 accepted a bill for Rs.5,000. 3.creditor of Rs.80,000 out of the amount. creditor writes a bill on the debtor for Rs.10,000.Debtor accepted the bill and return to the creditor .In the book of debtor and creditor

Answer 1

1. Cash a/c ...dr. 360
Bills receivable a/c. ...dr. 240
To Furniture a/c 600

2.Bills receivable a/c ....dr. 5000
Debtor a/c ....dr. 5000
To Sales a\c 10000