1.

Complete the journal on the basis of the narration given for a bill of exchange of Rs. 20,000/- Book of Santhosh JournalDateParticularsLFDebitCredit1.1.05?  ?[Sold goods to vinod]??1.1.05?   ?[Received vinod's acceptance]??4.1.05???[Bill discounted at 15% p.a.]??4.3.05?   ?[Discounted bill dishonoured]??

Answer»

Journal Book of Santhosh

DateParticularsLFDebitCredit
1.1.05Vinod A/c   Dr
  To Sales A/c
[Sold goods to vinod]
20000

 
20000
1.1.05Bill Receivable A/c  Dr
  To Vinod A/c
[Received vinond's accetance]
20000
 

20000
4.1.05Bank A/c    Dr
Discount A/c  Dr
  To Bill Receivable A/c
[Bill discounted at 15% p.a. 20000 x 15/100 x 2/12]
19500
500



 
20000
4.3.05Vinod A/c   Dr
  To Bank A/c
[Discounted bill dishonoured]
20000

 
20000



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