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InterviewSolution
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A sold goods to B for ₹ 60,000 Charging IGST 18% and immediately drew a bill on B who duly accepted the same. A endorsed the bill to C. C endorsed it to his creditor D. D discounted the bill for ₹ 68,000. On the date of maturity, the bill was dishonoured and Bank paid noting charges amounting to ₹ 200.Show Journal entries in the books of all the parties to record these transactions. |
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Answer» A sold goods to B for ₹ 60,000 Charging IGST 18% and immediately drew a bill on B who duly accepted the same. A endorsed the bill to C. C endorsed it to his creditor D. D discounted the bill for ₹ 68,000. On the date of maturity, the bill was dishonoured and Bank paid noting charges amounting to ₹ 200. Show Journal entries in the books of all the parties to record these transactions. |
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