Journalise the following transactions in the books of J. Jaggi:
(4) Our acceptance to M. Madan for 5 000/- retired before due date, rebate allowed * 10/-.
1°) . Kaku's acceptance for 400/- renewed for a further period of 3 months, interest charged at 15 per cent.
(C) Our acceptance to P. Swamy for 800/- renewed for 3 months on the condition that 200/-is paid in cash
immediately and the remaining balance to carry interest at 12 per cent.
(a) D. Dutt's promissory note for 700/- which we had endorsed in favour of P. Mukherjee dishonoured. P.
Mukherjee paid 10/- as noting charges. We pay P. Mukherjee by cheque and accept from D. Dutt another
bill for the amount due plus interest * 15/-.
(e) Our promissory note for 500/- in favour of A. Alam returned unpaid due to lack of instructions to the bank.
A. Alam claim * 510/- which we pay by cheque.
Our promissory note for 500/- in favour of Patel settled by sending him Tanna's acceptance of 500/-
Answers
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Answer:
Journal in the books of J. Jaggi....
Explanation:
In the books of J. Jaggi
1) Kaku account Dr. 400
To BR account 400
Kaku a/c Dr. 15
To interest account 15
B R a/c Dr. 415
To kaku a/c 415
C) B.P a/c Dr. 800
To Swamy a/c 800
Swamy a/c Dr. 200
To bank a/c 200
Interest a/c Dr. 18
To swamy A/C 18
swamy a/c Dr. 618
Tp B P a/c 618
D) Mukherjee a/c Dr. 710
To bank ac 710
Dutt ac Dr. 15
To Interest ac 15
B R ac Dr. 725
To dutt ac 725
E) BP a/c Dr. 500
interest a/c Dr. 10
To Alam a/c 510
BP ac Dr. 500
To Bills receivable account 500
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