• Journalise the following transactions in the book’s of Bhaskar.

·     
·         Suresh informed Bhaskar that Nishad’s acceptance for Rs. 2500 endorsed to Suresh has been dishonoured and noting charges amounted to Rs. 25.
·         Rajesh renews his acceptance to Bhaskar for Rs. 7500 by paying Rs. 2500 in cash and accepting a fresh bill for the balance plus interest @ 10% p.a. for three months.
·         Mandar retired his acceptance to Bhaskar for Rs. 3,800 by paying Rs. 3750 in cash.
·        Bhaskar sent a bill of Dayaram for Rs. 5000 to the bank for collection. But the bank informed that the bill has been dishonoured by Dayaram. 


Journal Entries in the Books of Bhaskar 

Sr. No.	Particulars	JF	DEBIT	CREDIT
1.	Nishad's A/c.... Dr		2525
	To Suresh's A/c			2525
	[Being the Endorsed bill is dishonoured along with noting charges]
2.	Rajesh's A/c ..... Dr.		7500
	To Bills Receivable A/c			7500
	[Being the bill is dishonoured]
3.	Cash/ Bank A/c ... Dr.		2500
	To Rajesh's A/c			2500
	[Being the Part payment is made]
4.	Rajesh's A/c ... Dr.		125
	To Interest A/c			125
	[Being the interest is charged on balance amount]
5.	Bills Receivable A/c ... Dr.		5125
	To Rajesh's A/c			5125
	[Being the new bill is drawn along with interest]
6.	Cash A/c ...Dr		3750
	Rebate's A/c ...Dr		50
	To Bills Receivable A/c			3800
	[Being the Bill is retired]
7.	Bank for collection A/c ... Dr		5000
	To Bills Receivable A/c			5000
	[Being the bill is sent to bank for collection]
8.	Dayaram's A/c .... Dr.		5000
	To Bank for collection A/c			5000
	[Being the sent to bank for collection bill is dishonoured]