Question

X made the following sales to Y.

Date Amount

Jan. 01, 2019 Rs. 20,000

Jan. 08, 2019 Rs. 25,000

Jan. 10, 2019 Rs.10,000

Jan. 15, 2019 Rs. 40,000

For all the sales X drew bills on Y payable after 60 days. Bill drawn on Jan. 01, 2019 was retained by X with

him till its due date. The bill drawn on Jan. 08, 2019 was discounted by X from the bank at 9% p.a. The bill

drawn on Jan. 10, 2019 was endorsed by X to his creditor Z in full settlement of Rs. 10,400. On March 12,

2019 X sent the bill drawn on Jan. 15, 2019 to his bank for collection. All the bills were dishonoured by Y

on due dates except the first bill and noting charges of Rs.100 was paid on dishonoured bills. Pass

necessary journal entries in the books of X and Y.​

Answer 1

Answer:

X made the following sales to Y.

X made the following sales to Y. Date Amount

X made the following sales to Y. Date Amount Jan. 01, 2019 Rs. 20,000

X made the following sales to Y. Date Amount Jan. 01, 2019 Rs. 20,000 Jan. 08, 2019 Rs. 25,000

X made the following sales to Y. Date Amount Jan. 01, 2019 Rs. 20,000 Jan. 08, 2019 Rs. 25,000Jan. 10, 2019 Rs.10,000

X made the following sales to Y. Date Amount Jan. 01, 2019 Rs. 20,000 Jan. 08, 2019 Rs. 25,000Jan. 10, 2019 Rs.10,000Jan. 15, 2019 Rs. 40,000

X made the following sales to Y. Date Amount Jan. 01, 2019 Rs. 20,000 Jan. 08, 2019 Rs. 25,000Jan. 10, 2019 Rs.10,000Jan. 15, 2019 Rs. 40,000 For all the sales X drew bills on Y payable after 60 days. Bill drawn on Jan. 01, 2019 was retained by X with

X made the following sales to Y. Date Amount Jan. 01, 2019 Rs. 20,000 Jan. 08, 2019 Rs. 25,000Jan. 10, 2019 Rs.10,000Jan. 15, 2019 Rs. 40,000 For all the sales X drew bills on Y payable after 60 days. Bill drawn on Jan. 01, 2019 was retained by X with him till its due date. The bill drawn on Jan. 08, 2019 was discounted by X from the bank at 9% p.a. The bill

X made the following sales to Y. Date Amount Jan. 01, 2019 Rs. 20,000 Jan. 08, 2019 Rs. 25,000Jan. 10, 2019 Rs.10,000Jan. 15, 2019 Rs. 40,000 For all the sales X drew bills on Y payable after 60 days. Bill drawn on Jan. 01, 2019 was retained by X with him till its due date. The bill drawn on Jan. 08, 2019 was discounted by X from the bank at 9% p.a. The bill drawn on Jan. 10, 2019 was endorsed by X to his creditor Z in full settlement of Rs. 10,400. On March 12,

X made the following sales to Y. Date Amount Jan. 01, 2019 Rs. 20,000 Jan. 08, 2019 Rs. 25,000Jan. 10, 2019 Rs.10,000Jan. 15, 2019 Rs. 40,000 For all the sales X drew bills on Y payable after 60 days. Bill drawn on Jan. 01, 2019 was retained by X with him till its due date. The bill drawn on Jan. 08, 2019 was discounted by X from the bank at 9% p.a. The bill drawn on Jan. 10, 2019 was endorsed by X to his creditor Z in full settlement of Rs. 10,400. On March 12, 2019 X sent the bill drawn on Jan. 15, 2019 to his bank for collection. All the bills were dishonoured by Y

X made the following sales to Y. Date Amount Jan. 01, 2019 Rs. 20,000 Jan. 08, 2019 Rs. 25,000Jan. 10, 2019 Rs.10,000Jan. 15, 2019 Rs. 40,000 For all the sales X drew bills on Y payable after 60 days. Bill drawn on Jan. 01, 2019 was retained by X with him till its due date. The bill drawn on Jan. 08, 2019 was discounted by X from the bank at 9% p.a. The bill drawn on Jan. 10, 2019 was endorsed by X to his creditor Z in full settlement of Rs. 10,400. On March 12, 2019 X sent the bill drawn on Jan. 15, 2019 to his bank for collection. All the bills were dishonoured by Y on due dates except the first bill and noting charges of Rs.100 was paid on dishonoured bills. Pass

X made the following sales to Y. Date Amount Jan. 01, 2019 Rs. 20,000 Jan. 08, 2019 Rs. 25,000Jan. 10, 2019 Rs.10,000Jan. 15, 2019 Rs. 40,000 For all the sales X drew bills on Y payable after 60 days. Bill drawn on Jan. 01, 2019 was retained by X with him till its due date. The bill drawn on Jan. 08, 2019 was discounted by X from the bank at 9% p.a. The bill drawn on Jan. 10, 2019 was endorsed by X to his creditor Z in full settlement of Rs. 10,400. On March 12, 2019 X sent the bill drawn on Jan. 15, 2019 to his bank for collection. All the bills were dishonoured by Y on due dates except the first bill and noting charges of Rs.100 was paid on dishonoured bills. Pass necessary journal entries in the books of X and Y.

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