Question

journalist the following transaction in the books of mantri​

Answer 1

Answer:

Journal Entries in the books of Jaydeep.

Date

Particulars

L.F.

Amount

Rs.

Amount

Rs.

1.

Arvind’s A/c ...... Dr.

7000

To Bills Receivable A/c

7000

[Being the bill is dishonoured]

2.

Arvind’s A/c ...... Dr.

500

To Interest A/c

500

[Being the interest is charged]

3.

Bills Receivable A/c .... Dr.

7500

To Arvind’s A/c

7500

[Being the new bill is drawn along with interest]

4.

Mahadev’s A/c .... Dr.

4080

To Bank A/c

4080

[Being the bill is dishonoured along with noting charges]

5.

Kazi's A/c .....Dr.

7085

To Hanumant's A/c

7085

[Being the endorsed bill is dishonoured along with noting charges]

6.

Bank A/c ..... Dr.

4800

Bank Charges A/c ...... Dr.

100

To Bank for collection A/c

4900

[Being the bill sent to bank for collection has honoured]

7.

Bank A/c ........ Dr.

8700

Rebate A/c ...... Dr.

300

To Bills Receivable A/c

9000

[Being the bill is retired]