Question

Goods sold to jacob for ₹
5000 and received a bill receivable for the same amount for three months

Answer 1

Answer:

Jacob a/c dr. 5000

         to sales a/c 5000

       

bills recievable a/c dr. 5000

           to Jacob a/c 5000

Explanation:

after three months, if jacob pays without fault, next entry will be \

cash a/c dr.   5000

       to bills recievable a/c 5000