Ram draws a bill for ₹ 2,000 on Shyam on 15th September, 2018 for 3 months. On maturity, Shyam failed to honour th bill.
Pass the necessary Journal entries in the books of Ram and Shyam.

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Solution

Books of Ram

Journal

Date

Particulars

L.F.

Debit

Amount

(₹)

Credit

Amount

(₹)

2018

Sep.15

Bills Receivable A/c

Dr.

2,000

To Shyam

2,000

(Shyam’s acceptance received)

Dec.18

Shyam A/c

Dr.

2,000

To Bills Receivable A/c

2,000

(Shyam’s acceptance dishonoured)

Books of Shyam

Journal

Date

Particulars

L.F.

Debit

Amount

(₹)

Credit

Amount

(₹)

2018

Sep.15

Ram

Dr.

2,000

To Bills Payable A/c

2,000

(Bill drawn by Ram was accepted)

Dec.18

Bills Payable A/c

Dr.

2,000

To Ram

2,000

(Bills Payable dishonoured)

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Books of Ram
Journal
Date	Particulars		L.F.	Debit Amount (₹)	Credit Amount (₹)
2018
Sep.15	Bills Receivable A/c	Dr.		2,000
	To Shyam				2,000
	(Shyam’s acceptance received)

Dec.18	Shyam A/c	Dr.		2,000
	To Bills Receivable A/c				2,000
	(Shyam’s acceptance dishonoured)

Books of Shyam
Journal
Date	Particulars		L.F.	Debit Amount (₹)	Credit Amount (₹)
2018
Sep.15	Ram	Dr.		2,000
	To Bills Payable A/c				2,000
	(Bill drawn by Ram was accepted)

Dec.18	Bills Payable A/c	Dr.		2,000
	To Ram				2,000
	(Bills Payable dishonoured)

Ram draws a bill for ₹ 2,000 on Shyam on 15th September, 2018 for 3 months. On maturity, Shyam failed to honour th bill. Pass the necessary Journal entries in the books of Ram and Shyam.

Ram draws a bill for ₹ 2,000 on Shyam on 15th September, 2018 for 3 months. On maturity, Shyam failed to honour th bill.
Pass the necessary Journal entries in the books of Ram and Shyam.