Journal Entries in the Books
of Tushar
Date
|
Particulars
|
LF
|
Debit
(Rs)
|
Credit
(Rs)
|
? 1
|
Ameet's A/c ....Dr.
|
|
7500
|
|
|
To Bills Payable A/c
|
|
|
7500
|
|
[Being the bill is accepted]
|
|
|
|
2
|
Bills Payable A/c ....Dr.
|
|
7500
|
|
|
To Ameet's A/c
|
|
|
7500
|
|
[Being the bill is dishonoured]
|
|
|
|
3
|
Interest A/c ....Dr.
|
|
200
|
|
|
To Ameet's A/c
|
|
|
200
|
|
[Being the Interest is charged]
|
|
|
|
4
|
Ameet's A/c ....Dr.
|
|
4700
|
|
|
To Bank A/c
|
|
|
4700
|
|
[Being the part payment is made]
|
|
|
|
5
|
Ameet's A/c ....Dr.
|
|
3000
|
|
|
To Bills Payable A/c
|
|
|
3000
|
|
[Being the part payment is made]
|
|
|
|
6.
|
Bills Payable A/c ....Dr.
|
|
3000
|
|
|
Bank A/c ....Dr.
|
|
|
2960
|
|
To Discount A/c
|
|
|
40
|
|
[Being the new bill is retired]
|
|
|
|
In the Books of Ameet
Tushar's A/c
Date
|
Particulars
|
J
F
|
Amount
|
Date
|
Particulars
|
J
F
|
Amount
|
?
|
To Balance b/d
|
|
7500
|
1.
|
By Bills Receivable A/c
|
|
7500
|
2.
|
To Bills Receivable A/c
|
|
7500
|
4.
|
By Bank A/c
|
|
4700
|
3.
|
To Interest A/c
|
|
200
|
5
|
By Bills Receivable A/c
|
|
3000
|
|
|
|
15200
|
|
|
|
15200
|