Question

On January 1 satish drew a bill on Harish for Rs6000 payable after three months Harish accepted the bill on the due date the bill was dishonoured and noting charges incured by Sathish amounted to Rs 200

Answer 1

Answer:

in the books of Satish

bill receivable a/c dr .6,000

to Harish a/c 6,000

harish a/c dr 6,200

to bills receivable a/c 6,200

in the books of Harish

Satish a/c dr 6,000

to bills payable 6,000

bills payable a/c dr 6,000

noting charges a/c dr 2,00

to Satish a/c 6,200