cash book entry for a transaction "discounted a bill of exchange through bank" for value Rs 2376

Open in App

Solution

Dear Student

Journal entry for Bill discounted is :

Bank A/c Dr. xxx

Discounting charges Dr. xxx

To B/R xxx

(Being bill discounted )

Cash Book

Cr.

Date Particulars Cash Bank Date Particulars Cash Bank

(Rs) (Rs) (Rs) (Rs)

Bills Receivable A/c 2,376

Bal C/d 2,376

2,376 2,376

Regards

Suggest Corrections

Similar questions

Prepare a bank reconciliation statement from the following information:
1. Overdraft balance as per cash book is Rs. 1,20,000.
2. Cheque deposited Rs. 30,000 but no entry was passed in cash book.
3. Bill discounted dishonoured for Rs. 20,000.
4. Bank charges of Rs. 50 entered in cash book twice.

Vinod owed Rs.10,000 to Mohan. Mohan wrote a bill of exchange for Rs.10,000 on Vinod for three months, which was duly accepted by Vinod. Mohan discounted the bill with Bank at a discount of Rs.100. On maturity, Bill was dishonoured. Bank paid Rs.20 as noting charges. Pass journal entries in the books of Mohan.

Q. A bill of exchange is drawn for all cash transaction.

What is the journal entry in bank books for the transaction of withdrawing Rs 1200 from the bank by a customer?

Prepare a Bank Reconciliation Statement on 31 March 2004 for the following when debit balance of pass book is Rs.2,500:

(1) Cheques issued, but not presented for payment Rs.2,000.

(2) Cheques issued, but omitted to be record in Cash Book Rs.1,000.

(3) Cheque deposited but not collected Rs.500.

(4) A discounted bill of exchange dishonoured Rs.1,000.

(5) Interest on overdraft Rs.100.

Join BYJU'S Learning Program

Bank A/c	Dr.	xxx
Discounting charges	Dr.	xxx
To B/R			xxx
(Being bill discounted )

Cash Book
							Cr.
Date	Particulars	Cash	Bank	Date	Particulars	Cash	Bank
Date	Particulars	(Rs)	(Rs)	Date	Particulars	(Rs)	(Rs)

	Bills Receivable A/c		2,376

					Bal C/d		2,376

			2,376				2,376

cash book entry for a transaction "discounted a bill of exchange through bank" for value Rs 2376

Dear Student Journal entry for Bill discounted is : Bank A/c Dr. xxx Discounting charges Dr. xxx To B/R xxx (Being bill discounted ) Cash Book Cr. Date Particulars Cash Bank Date Particulars Cash Bank (Rs) (Rs) (Rs) (Rs) Bills Receivable A/c 2,376 Bal C/d 2,376 2,376 2,376 Regards

Dear Student

Journal entry for Bill discounted is :

Bank A/c Dr. xxx

Discounting charges Dr. xxx

To B/R xxx

(Being bill discounted )

Cash Book

Cr.

Date Particulars Cash Bank Date Particulars Cash Bank

(Rs) (Rs) (Rs) (Rs)

Bills Receivable A/c 2,376

Bal C/d 2,376

2,376 2,376

Regards