Question

On 1st January 2018 a good sold to be for 50000 and on the same date give up on him a bill at 3 months for the amount be accepted the bill and return it to a on 4th January 2018 a
bill with his bank at 49000 on due date Dishonored and Bank paid 1,000 as noting charges

Answer 1

1.1.2018 cash a/c .................Dr. 50000
To sales a/c 50000
4.1.2018 disc.of bill a/c ....................Dr.100
bank a/c ...................... ... Dr.49000
To B/R a/c 50000
7.4.2018 debtor's a/c......................Dr. 50000
To bank a/c 50000
7.4.2018 debtor's a/c......................Dr 51000
to bank a/c 51000


i think it's correct answer