Dishonour of a bill is recorded in:

Cash account

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Sales account

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Purchases account

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Bills receivable account

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Solution

The correct option is D
Bills receivable account

Dishonour of a bill is recorded in bills receivable account.

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Q. Question : Prepare the bills payable account from the following and find out missing figure if any.

	(Rs)
Bills accepted	$1, 05, 000$
Discount received	$17, 000$
Purchases returns	$9, 000$
Return inwards	$12, 000$
Cash paid to accounts payable	$50, 000$
Bills receivable endorsed to creditor	$45, 000$
Bills dishonoured	$17, 000$
Bad debts	$14, 000$
Balance of accounts payable (closing)	$85, 000$
Credit purchases	$2, 15, 000$

Prepare the bills payable account from the following and find out missing figure if any :

	Rs
Bills accepted	1,05,000
Discount received	17,000
Purchases returns	9,000
Return inwards	12,000
Cash paid to accounts payable	50,000
Bills receivable endorsed to creditor	45,000
Bills dishonoured	17,000
Bad debts	14,000
Balance of accounts payable (closing)	85,000
Credit purchases	2,15,000

Prepare the bills payable account from the following and find out missing figure if any

$\begin{matrix} (R s .) Bills accepted & 1, 05, 000 Discount received & 17, 000 Purchases returns & 9, 000 Return inwards & 12, 000 Cash paid to accounts payable & 50, 000 Bills receivable endorsed to creditor & 45, 000 Bills dishonoured & 17, 000 Bad debts & 14, 000 Balance of accounts payable(closing) & 85, 000 Credit purchases & 2, 15, 000 \end{matrix}$

Q. During the course of an accounting year, an Accountant found a difference in the tiral balance. He puts this difference in a newly opened suspense account. Subsequently, he located the following errors in his books of account:
(i) Goods purchased from Shiv for ₹ 10,000, but entered in sales book.
(ii) Received a bill receivable for ₹ 18,000 from Ganesh, but recorded in bills payable book.
(iii) An item of ₹ 4,000 in respect of purchases returns, wrongly debited to purchases account.
(iv) An item of ₹ 2,000 relating to pre-paid salary account omitted to be brought forward.
(v) Paid ₹ 1,000 on account of repair of furniture, but wrongly debited to furniture account.
Pass journal entries to rectify the above mentioned errors and prepare suspense account assuming that no error remained undetected.

Q. Bills receivable account is a/an ___________.

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Dishonour of a bill is recorded in:

The correct option is D Bills receivable account Dishonour of a bill is recorded in bills receivable account.

The correct option is D
Bills receivable account

Dishonour of a bill is recorded in bills receivable account.