Question

Calculate the amount of bills receivable dishonoured from the following information

$\begin{array}{cc}& (Rs.)\\ \text{Opening balances of bills receivable}& 1,20,000\\ \text{Bills Collected(honoured)}& 1,85,000\\ \text{Bills receivables endorsed}& 22,800\\ \text{Closing balance of bills receivables}& 50,700\\ \text{Bills receivables received}& 1,50,000\end{array}$

Answer 1

$\text{Dr}\text{Bills Receivable Account}Cr\begin{array}{cccccccc}\text{Date}& \text{Particulars}& \text{JF}& \text{Amt.Rs.)}& \text{Date}& \text{Particulars}& \text{JF}& \text{Amt.(Rs.)}\\ & \text{Balance b/d}& & 1,20,000& & \text{Cash/Bank}& & \\ & \text{Debtors(Bills}& & & & \text{(Bills honoured)}& & 1,85,000\\ & \text{received)}& & & & \text{Bills Endorsed}& & 22,800\\ & \text{(Acceptances)}& & 1,50,000& & \text{(creditors)}& & \\ & & & & & \text{Debtors}& & \\ & & & & & \text{(Bill dishonoured )}& & 11,500\\ & & & & & \text{(Balancing Figure)}& & \\ & & & & & \text{Balance c/d}& & 50,700\\ & & & \underset{–}{\underset{–}{\overline{2,70,000}}}& & & & \underset{–}{\underset{–}{\overline{2,70,000}}}\end{array}$