Calculate Bills Drawn and Accepted if :
Bills receivable drawn in customers opening balance of bills Rs.7000
Bills received endorsed to creditors Rs.1000
Bill dishonored by customers Rs.2000
Bills collected Rs.13000
Closing Balance of Bills Receivable Rs 5000

14000

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9000

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16000

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13000

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Solution

The correct option is C 14000
Dr Total Bill Receivable Account Cr
Particulars Amt Particulars Amt
To Balance B/d
To Debtors A/c
(bill drawn) 7000
$14000$ By Cash A/c
By Debtors A/c
(bill dishonoured)
By Creditor A/c
(bill endorsed)
By Balance C/d 13000
2000
1000
5000
21000 21000

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Similar questions

Calculate the amount of bills receivable during the year.

	Rs
Opening balance of bills receivable	75,000
Bill dishonoured	25,000
Bills collected (honoured)	1,30,000
Bills receivable endorsed to creditors	15,000
Closing balance of bills receivable	65,000

	(Rs)
Opening balance of bills receivable	$1, 20, 000$
Bills collected (honoured)	$1, 85, 000$
Bills receivable endorsed	$22, 800$
Closing balance of bills receivable	$50, 700$
Bill receivable received	$1, 50, 000$

	(Rs)
Opening balance of debtors	$14, 00, 000$
Opening balance of bills receivable	$7, 00, 000$
Closing balance of bills receivable	$3, 50, 000$
Cheque dishonoured	$27, 000$
Cash received from debtors	$10, 75, 000$
Cheque received and deposited in the bank	$8, 25, 000$
Discount allowed	$37, 500$
Irrecoverable amount	$17, 500$
Returns Inwards	$28, 000$
Bills receivable received from customers	$1, 05, 000$
Bills receivable matured	$2, 80, 000$
Bills discounted	$65, 000$
Bills endorsed to creditors	$70, 000$

Calculate the amount of bills receivable dishonoured from the following information.

	Rs
Opening balance of bills receivable	1,20,000
Bills collected (honoured)	1,85,000
Bills receivable endorsed	22,800
Closing balance of bills receivable	50,700
Bills receivable received	1,50,000

	(Rs)
Opening stock	$30, 000$
Closing stock	$25, 000$
Opening creditors	$50, 000$
Closing debtors	$75, 000$
Discount allowed by creditors	$1, 500$
Discount allowed to customers	$2, 500$
Cash paid to creditors	$1, 35, 000$
Bills payable accepted during the period	$30, 000$
Bills receivable received during the period	$75, 000$
Cash received from customers	$2, 20, 000$
Bill receivable dishonored	$3, 500$
Purchases	$2, 95, 000$

25 %

85, 000

4, 00, 000 = 3, 00, 000 \times \frac{100}{75}

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Particulars	Amt	Particulars	Amt
To Balance B/d To Debtors A/c (bill drawn)	7000 $14000$	By Cash A/c By Debtors A/c (bill dishonoured) By Creditor A/c (bill endorsed) By Balance C/d	13000 2000 1000 5000
	21000		21000