Question

On feburary 1 kamala drew a three months bill for 2,00,000 on sashikala. On the same date she discounted the bill with his banker at 12% p.a . On the due date the acceptor of the bill honoured it

Answer 1

Answer:

                        IN THE BOOKS KAMALA

                                  JOURNAL

Bill Receivable A/C  Dr. 2,00,000

        To Sashikala  2,00,000

Bank A/C  Dr. 1,94,000

Discount Charges A/C  Dr. 6,000

      To Bill receivable A/C 2,00,000

                                   IN THE BOOKS OF SASHIKALA

                                                      JOURNAL

Kamala  Dr. 2,00,000

   To Bill Payable A/C 2,00,000

Bill Payable A/C Dr. 2,00,000

      To Cash A/C  2,00,000

I HOPE YOU UNDERSTAND!