Asha sold goods worth Rs. 19,000 to Nisha on March 2, 2011. Rs. 4,000 were paid by Nisha immediately and for the balance, she accepted a bill of exchange drawn upon her by Asha payable after three months. Asha discounted the bill immediately with her bank. On the due date, Nisha dishonoured the bill and the bank paid Rs. 30 as noting charges.
Record the necessary Journal entries in the books of Asha and Nisha.

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Asha sold goods worth Rs 19,000 to Nisha on March 02, 2017. Rs 4,000 were paid by Nisha immediately and for the balance she accepted a bill of exchange drawn upon her by Asha payable after three months. Asha discounted the bill immediately with her bank. On the due date Nisha dishonoured the bill and the bank paid Rs 30 as noting charges.

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PRACTICAL PROBLEMS

Sudhatai sold goods to Chhayatai on credit for 4 months for Rs 10,000 on 7^th Sept., 2009. Chhayatai paid on her account of Rs 4,000 at 2% cash discount and accepted bill for the balance at 2 months. On the same date Sudhatai discounted with her bank at 12% p.a. on due date Chhayatai honoured her bill.

A. You required to write journal of Sudhatai.

B. Pass journal entries in the books of Sudhatai assuming that on due date the bill is dishonoured and Sudhatai’s bank paid noting chargers Rs 100.

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