A bill receivable of Rs. 500 was dishonored and credited as Rs. 50 in B/R A/c. The error will be rectified by ___________.

crediting debtor by Rs. 450

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crediting bills receivable by Rs. 450

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debiting bills receivable by Rs. 450

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debiting debtors A/c by rs. 550

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Solution

The correct option is B crediting bills receivable by Rs. 450
When a bills receivable is dishonoured the dishonoured amount will be credited. In the given case Rs-50 is credited instead of Rs-500. The Bills receivable account is overcast by Rs-450 and hence, Rs-450 will be credited to Bills receivable account.

Suggest Corrections

Similar questions

Rectify the following errors,

(a) Depreciation provided on machinery Rs. 4,000 was posted as Rs. 400.

(b) Bad debts are written off Rs. 5,000 were posted as Rs. 6,000.

(d) Goods are withdrawn by the proprietor for personal use Rs. 800 were posted as Rs. 300.

(e) Bill receivable for Rs. 2,000 received from a debtor was posted as Rs. 3,000.

Rectify the following errors:

(a)	Depreciation provided on machinery Rs 4,000 was posted as Rs 400.
(b)	Bad debts written off Rs 5,000 were posted as Rs 6,000.
(c)	Discount allowed to a debtor Rs 100 on receiving cash from him was posted as Rs 60.
(d)	Goods withdrawn by proprietor for personal use Rs 800 were posted as Rs 300.
(e)	Bill receivable for Rs 2,000 received from a debtor was posted as Rs 3,000.

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