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Journal for Dishonour Incase of Discounting

Journalise th...

Question

Journalise the following in the books of X:
Y's acceptance for ₹ 2,00,000 which was discounted by X from the bank has been dishonoured, noting charges paid by bank being ₹ 100.

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Solution

Books of X
Journal

Date

Particulars

L.F.

Debit
Amount
(Rs)

Credit
Amount
(Rs)

Y Dr.
2,00,100

To Bank A/c

2,00,100

(Discounted bill dishonoured and noting charges paid)

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