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Question No 05 Chapter No 13 – D.K Goal 11 Class

Shubham
Question No 05 Chapter No 13

Question No 05 Chapter No 13

05. B owed 20,400 to A. On 15th January, 2019, he accepted a bill for 20,000 for two months drawn by A in full settlement of his debt. On 18th January, 2019, A endorsed the bill to his creditor C. The bill was duly met on the date of maturity. Pass Journal entries in the books of A, B and C.

The solution of Question No 05 Chapter No 13: –

In the books of A (Drawer)
Date   Particulars
 L.F. Debit Credit
2019          
Jan.18 Bills Receivable A/c Dr.   20,000  
  Discount Allowed A/c Dr.   400  
  To B A/c       20,400
  (Being B accepted bill)        
           
Jan.18 C A/c Dr.   20,000  
  To Bills Receivable A/c       20,000
  (Being Bill endorsed in favor of C)        
         
In the books of B (Drawee)
Date   Particulars
 L.F. Debit Credit
2019          
Jan.15 A A/c Dr.   20,400  
  To Bills Payable A/c       20,000
  To Discount Received A/c       400
  (Being Bill drawn by A, accepted)        
           
Mar. 18 Bills Payable A/c Dr.   20,000  
  To Cash A/c       20,000
  (Being Bill honoured on maturity)        
         
In the books of A (Drawer)
Date   Particulars
 L.F. Debit Credit
2019          
Jan.18 Bills Receivable A/c Dr.   20,000  
  To A A/c       20,400
  (Being B accepted bill)        
           
Jan.18 Cash A/c Dr.   20,000  
  To Bills Receivable A/c       20,000
  (Being Bill honoured on maturity)        
         

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Also, Check out the solved question of all Chapters: –

D K Goel – New ISC Accountancy -(Class 11 – ICSE)- Solution

Check out the Accountancy Class +1 by D.K. Goal (Arya Publication) from their official Site.

D K goel accountancy +1 - ISC_Accounts_11_20_Image-min
D K Goel accountancy +1 – ISC_Accounts_11_20_ImageQuestion No 42 Chapter No 11 – D.K Goal 11 Class

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