X’s Journal |
|||||
Date |
Particulars |
L.F. |
Debit Amount (₹) |
Credit Amount (₹) |
|
2019 |
|
|
|
|
|
Jan.01 |
Y A/c |
Dr. |
|
40,000 |
|
|
To Sales A/c |
|
|
|
40,000 |
|
(Goods sold on credit to Y) |
|
|
|
|
|
|
|
|
|
|
Jan.01 |
Bills Receivable A/c |
Dr. |
|
40,000 |
|
|
To Y A/c |
|
|
|
40,000 |
|
(Acceptance received from Y) |
|
|
|
|
|
|
|
|
|
|
Jan.04 |
Bank A/c |
Dr. |
|
39,400 |
|
|
Discounting Charges A/c |
Dr. |
|
600 |
|
|
To Bills Receivable A/c |
|
|
|
40,000 |
|
(Bill discounted at 6% p.a.) |
|
|
|
|
|
|
|
|
|
|
Apr.04 |
Y A/c (40,000+200) |
Dr. |
|
40,200 |
|
|
To Bank A/c |
|
|
|
40,200 |
|
(Bill dishonoured and noting charges of Rs 200 paid by bank) |
|
|
|
|
|
|
|
|
|
|
Apr.04 |
Y A/c |
Dr. |
|
1,206 |
|
|
To Interest A/c |
|
|
|
1,206 |
|
(Interest due for three months from Y on renewal of bill) |
|
|
|
|
|
|
|
|
|
|
Apr.04 |
Bills Receivable (New) A/c (40,200+1,206) |
Dr. |
|
41,406 |
|
|
To Y A/c |
|
|
|
41,406 |
|
(Acceptance received from Y) |
|
|
|
|
|
|
|
|
|
Working Notes:
WN 1: Amount of Discounting Charges
WN 2: Amount of Interest on Renewal of Bill