Question

Journalise the following transactions in the books of Anupam.
1. Received an acceptance of Rs. 2000 from Manoj for 2 months.
2. An acceptance of Rs. 3000 from Mayur endorsed to Piyush in the full settlement of his account
for Rs. 3100.
3. Anupam's acceptance to Rajesh for Rs. 1500 renewed for a further period of 1 month after
adding 12% interest p.a.
4. Dilip sold goods to Anupam for Rs. 3000 and draws a bill of Rs. 2000 at 2 months and the
balance settled in cash.​

Answer 1

ANSWER:

1

Bills Receivable                         Dr.  2000

       TO Manoj                                              2000

2

Piyush                                         Dr. 3000

Discount Received                    Dr. 100

          To Bills Receivable                            3100

3 Sorry I dont know this one

4

Purchases                                   Dr. 3000

          To Cash                                           1000

          To Bills Payable                               2000

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