Question

Received 2,000 for a bill receivable (B/R) from Hari and deposited the same into the bank​

Answer 1

Answer:

Bank Account Dr. 2,000

To Hari Account 2,000

Explanation:

Received ₹2,000 for a bills receivable from Hari. Hence journal for this will be

Bills receivable Dr.

To Hari

As B/R is an asset and it is increasing so debit balance. Hari is a personal account, using the golden rule debit the receiver credit the giver and here Hari is giving hence Hari will be credited.

In the next part the B/R is deposited into bank. Hence journal will be

Bank ac Dr.

To B/R ac

So nullifying the bank ac we get the journal

Bank a/c Dr............................ 2000

To Hari a/c..................................2000