Q4. On 1st January, 2019. X sold goods to y for Rs. 15000, and immediately received from Y
Rs. 5000 in cash and on the same date draws a bill on Y at three months for the balance. The
bill is duly accepted by Y. Bill was dishonoured on the due date and X paid Rs. 25 as noting
charges. Ten days later Y pays the amount due to. Pass journal entries in the books of both
the parties.
Answers
Answer:
it is the ans of this question.
Journal Entries
Explanation:
1 January, 2019: Y ...Dr. 10,000
Cash A/c ...Dr. 5,000
To Sales A/c 15,000
__________________________________________________________
1 January, 2019: Bill Receivable A/c ...Dr. 10,000
To Y 10,000
__________________________________________________________
3 April, 2019: Y ...Dr. 10,025
To Bill Receivable A/c 10,000
To Cash A/c 25
__________________________________________________________
10 April, 2019: Cash A/c ...Dr. 10,025
To Y 10,025