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Question

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

A
14000
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B
9000
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C
16000
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D
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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