Books of Mohan |
|||||
Journal |
|||||
Date |
Particulars |
L.F. |
Debit Amount Rs |
Credit Amount Rs |
|
2018 |
|
|
|
|
|
Jan.01 |
Bills Receivable A/c |
Dr. |
|
2,000 |
|
|
To Ram |
|
|
2,000 |
|
|
(Ram’s acceptance received) |
|
|
|
|
|
|
|
|
|
|
Jan.01 |
Bank A/c |
Dr. |
|
1,970 |
|
|
Discount Charges A/c |
Dr. |
|
30 |
|
|
To Bills Receivable A/c |
|
|
2,000 |
|
|
(Ram’s acceptance was discounted at 6% p. a. for 3 months) |
|
|
|
|
|
|
|
|
|
|
April 04 |
Ram |
Dr. |
|
2,020 |
|
|
To Bank |
|
|
2,020 |
|
|
(Ram’s acceptance which was discounted with bank dishonoured) |
|
|
|
|
|
|
|
|
|
|
April 04 |
Cash A/c |
Dr. |
|
520 |
|
|
To Ram |
|
|
520 |
|
|
(Cash received from Ram) |
|
|
|
|
|
|
|
|
|
|
April 04 |
Ram |
Dr. |
|
34 |
|
|
To Interest A/c |
|
|
34 |
|
|
(Interest due from on amount outstanding at 9% p. a. for 3 months) |
|
|
|
|
|
Working Note: Interest = 1,500 × 9% × 3/12 = Rs 34 |
|
|
|
|
|
|
|
|
|
|
April 04 |
Bill Receivable A/c |
Dr. |
|
1,534 |
|
|
To Ram |
|
|
1,534 |
|
|
(Ram’s acceptance received for outstanding amount including interest) |
|
|
|
|
|
|
|
|
|
|
April 04 |
Cash A/c |
Dr. |
|
1,534 |
|
|
To Bills Receivable A/c |
|
|
1,534 |
|
|
(Cash received on honouring of bill) |
|
|
|
|
|
|
|
|
|
Books of Ram |
|||||
Journal |
|||||
Date |
Particulars |
L.F. |
Debit Amount Rs |
Credit Amount Rs |
|
2018 |
|
|
|
|
|
Jan.01 |
Mohan |
Dr. |
|
2,000 |
|
|
To Bills Payable A/c |
|
|
2,000 |
|
|
(Bill drawn by Mohan was accepted) |
|
|
|
|
|
|
|
|
|
|
April 04 |
Bills Payable A/c |
Dr. |
|
2,000 |
|
|
Noting Charges A/c |
Dr. |
|
20 |
|
|
To Mohan |
|
|
2,020 |
|
|
(Bill dishonoured on its due date) |
|
|
|
|
|
|
|
|
|
|
April 04 |
Mohan |
Dr. |
|
520 |
|
|
To Cash A/c |
|
|
520 |
|
|
(Cash paid to Mohan) |
|
|
|
|
|
|
|
|
|
|
April 04 |
Interest A/c |
Dr. |
|
34 |
|
|
To Mohan |
|
|
34 |
|
|
(Interest due to Mohan on outstanding balance for 3 months) |
|
|
|
|
|
|
|
|
|
|
April 04 |
Mohan |
Dr. |
|
1,534 |
|
|
To Bills Payable A/c |
|
|
1,534 |
|
|
(Bill accepted for the amount outstanding including interest to Mohan) |
|
|
|
|
|
|
|
|
|
|
April 04 |
Bills Payable A/c |
Dr. |
|
1,534 |
|
|
To Cash A/c |
|
|
1,534 |
|
|
(Bill discharged on maturity) |
|
|
|
|
|
|
|
|
|