Journal
Entries in the books of Lilly.
Date
|
Particulars
|
LF
|
Debit
(RS)
|
Credit
(Rs)
|
?
1
|
Rose's
A/c
|
|
2000
|
|
|
To
Sales A/c
|
|
|
2000
|
|
[Being
the goods are sold]
|
|
|
|
2
|
Bank
A/c ..... Dr.
|
|
1000
|
|
|
To
Rose's A/c
|
|
|
1000
|
|
[Being
the part payment is made]
|
|
|
|
3
|
Bills
Receivable A/c .....
Dr.
|
|
1000
|
|
|
To
Rose's A/c
|
|
|
1000
|
|
[Being
the bill is drawn by balance amount]
|
|
|
|
4
|
Bank
A/c ..... Dr.
|
|
960
|
|
|
Discount
A/c ..... Dr.
|
|
40
|
|
|
To
Bills receivable A/c
|
|
|
1000
|
|
[Being
the bill is discounted]
|
|
|
|
5
|
Rose's
A/c ..... Dr.
|
|
1000
|
|
|
to
Bank A/c
|
|
|
1000
|
|
[Being
the discounted bill is dishonoured]
|
|
|
|
6
|
Rose's
A/c ..... Dr.
|
|
12
|
|
|
To
Interest A/c
|
|
|
12
|
|
[Being
the interest is charged]
|
|
|
|
7
|
Bank
A/c …..... Dr.
|
|
612
|
|
|
To
Rose's A/c
|
|
|
612
|
|
[Being
the part payment is made along with Interest]
|
|
|
|
8
|
Bills
Receivable A/c .....
Dr.
|
|
400
|
|
|
To
Rose's A/c
|
|
|
400
|
|
[Being
the new bill is drawn]
|
|
|
|
9
|
Bank
A/c ..... Dr.
|
|
400
|
|
|
To
Bills Receivable A/c
|
|
|
400
|
|
[Being
the new bill is duly honoured]
|
|
|
|