Question

write the journal entries ​

Answer 1

Answer:

Explanation:

JOURNAL ENTRIES IN THE BOOK OF 'A'

• B a/c dr. 800

To sales a/c cr. 800

(credit sale to b)

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• Bills Receivable a/c dr. 800

To B a/c cr. 800

(bill accepted by B)

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• Cash a/c dr. 800

To Bills Receivable a/c cr. 800

(being amount received)

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JOURNAL ENTRIES IN THE BOOK OF 'B'

• Purchase a/c dr. 800

To A a/c cr. 800

(Purchased goods from A)

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• A a/c dr. 800

To Bills Payable a/c cr. 800

(being acceptance given)

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• Bills Payable a/c dr. 800

To Cash a/c cr. 800

(Acceptance met)

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