Question

Journal entries in the books Ol Dolli the PLUS
Keshav bought from Ram Prasad goods worth 550 on a credit of 3 months. Allowing discount
of 50 to Keshav, Ram Prasad drew on him a bill for the balance, Keshav duly accepted the bil
and returned it to the drawer who discounted it with his banker at 6% p.a. On the due date the
bill was dishonoured. The banker had to spend 12 for noting, etc. The bill was taken over by
Ram Prasad from the banker.
Journalise the above transactions in the books of Keshav and Ram Prasad.
the Bill​

Answer 1

Answer:

Journal entries in the books Ol Dolli the PLUS

Keshav bought from Ram Prasad goods worth 550 on a credit of 3 months. Allowing discount

of 50 to Keshav, Ram Prasad drew on him a bill for the balance, Keshav duly accepted the bil

and returned it to the drawer who discounted it with his banker at 6% p.a. On the due date the

bill was dishonoured. The banker had to spend 12 for noting, etc. The bill was taken over by

Ram Prasad from the banker.

Journalise the above transactions in the books of Keshav and Ram Prasad.

the Bill