Sonam informs Ranbir that Salman’s
acceptance for Rs. 3200 endorsed to Sonam has been dishonoured and the noting
charges amounted to Rs. 80.
Ravindra renews his acceptance to
Ranbir for Rs. 4,800 by paying Rs. 1800 in cash and accepted a fresh bill for
the balance, plus interest @ 12% p.a for 2 months.
Dilip’s acceptance to Ranbir for Rs
8000 is retired one month before the due date at a discount of 12% p.a.
The bank informs Ranbir that
Shirin’s acceptance for Rs 5500 to Ranbir discounted with the bank earlier has
been dishounred and the noting charges Rs. 100.
Journal
Entries in the books of Ranbir.
|
Sr. No.
|
Particulars
|
JF
|
DEBIT
|
CREDIT
|
|
a
|
Salman's
A/c .....Dr.
|
3280
|
||
|
|
To Sonam's
A.c
|
|
|
3280
|
|
|
[Being the
endorsed bill is dishonoured along with Noting Charges]
|
|
|
|
|
b. i.
|
Ravindra's
A/c .....Dr.
|
|
4800
|
|
|
|
To Bills
Receivable A/c
|
|
|
4800
|
|
|
[Being the
bill is dishonoured]
|
|
|
|
|
ii.
|
Ravindra's
A/c .....Dr.
|
|
60
|
|
|
|
To Interest
A/c
|
|
|
60
|
|
|
[Being the
Interest is charged]
|
|
|
|
|
iii.
|
Cash A/c
.....Dr.
|
|
1800
|
|
|
|
To
Ravindra's A/c
|
|
|
1800
|
|
|
[Being the
part payment is made]
|
|
|
|
|
iv.
|
Bills
Receivable A/c .....Dr.
|
|
3060
|
|
|
|
To
Ravindra's A/c
|
|
|
3060
|
|
|
[Being the
new bill is drawn along with interest]
|
|
|
|
|
c.
|
Bank A/c
.....Dr.
|
|
7920
|
|
|
|
Rebate A/c
.....Dr.
|
|
80
|
|
|
|
To Bills
Receivable A/c
|
|
|
8000
|
|
|
[Being the
bill is retired]
|
|
|
|
|
d.
|
Shirin's
A/c .....Dr.
|
|
5600
|
|
|
|
To Bank A/c
|
|
|
5600
|
|
|
[Being the
discounted bill is dishonoured along with noting charges]
|
|
|
|
