P draws a bill for Rs 2,000 on Q who accepts and returns it to P on the same date. P sent the bill to his banker for collection. On the due date the bill is dishonoured by Q. Which account shall be debited in drawer`s books?

Bills Receivable A/c

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Bills Payable A/c

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Q's Account

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Bank Account

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Solution

The correct option is C
Q's Account

The correct entry would be:

Q's A/c Dr 2000

To Bill sent for collection A/c 2000

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P draws a bill for Rs 2,000 on Q who accepts and returns it to P on the same date. P sent the bill to his banker for collection. On the due date the bill is dishonoured by Q. Which account shall be debited in drawer`s books?

The correct option is C Q's Account The correct entry would be: Q's A/c Dr 2000 To Bill sent for collection A/c 2000

The correct option is C
Q's Account

The correct entry would be:

Q's A/c Dr 2000

To Bill sent for collection A/c 2000