- Nanda informs Kamesh that Shanti’s acceptance for Rs. 4,000 endorsed to Nanda has been dishonoured and noting charges have been Rs. 100.
- Ashok renews his acceptance to Kamesh for Rs. 2400 by paying Rs. 800 in cash and accepting a new bill for the balance plus interest @ 12 p.a. for 3 months.
- Deva’s acceptance to Kamesh Rs. 12,000 is retired one month before its due date at a discount of 12% p.a.
- The bank informs Kamesh that Sudhakar’s acceptance for Rs. 4,000 has been dishonoured and it has paid noting charges Rs. 80.
Journalize the following transactions in the books of Kamesh:
Sr.
No.
|
Particulars
|
L.F
|
Debit
(Rs.)
|
Credit
(Rs.)
|
1.
|
Shanti's
A/c ... Dr.
|
4100
|
||
To
Nanda's A/c
|
4100
|
|||
[Being
the endorsed bill is dishonoured along with noting charges]
|
||||
2.
|
Ashok's
A/c .... Dr
|
2400
|
||
To
Bills Receivable A/c
|
2400
|
|||
[Being
the Bill is dishonoured]
|
||||
3.
|
Cash
A/c ... Dr.
|
800
|
||
To
Ashok's A/c
|
800
|
|||
[Being
the Part Payment is Made]
|
||||
4.
|
Ashok's
A/c .... Dr.
|
48
|
||
To
Interest A/c
|
48
|
|||
[Being
the Interest is charged @12% p.a. for 3 months on Remaining amount of Rs.
1800]
|
||||
5.
|
Bills
Receivable A/c ... Dr.
|
1648
|
||
To
Ashok's A/c
|
1648
|
|||
[Being
the new bill on remaining amount is drawn along with interest]
|
||||
6.
|
Cash
/ Bank A/c ... Dr.
|
11880
|
||
Rebate's
A/c .... Dr.
|
120
|
|||
To
Bills Receivable A/c
|
12,000
|
|||
[Being
Deva's acceptance is retired before one month @ 12% p.a.]
|
||||
7.
|
Sudhakar's
A/c ....Dr.
|
4080
|
||
To
Bank A/c
|
4080
|
|||
[Being
the Discounted bill is dishonoured along with noting charges]
|
