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Question No 21 Chapter No 15 - USHA Publication 11 Class

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Focus Topic:Question No 21 Chapter No 15 - USHA Publication 11 Class

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Question No 21 Chapter No 15

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21. Ravinder Kaur sold goods to Harjinder Kaur for Rs 20,000 plus 12% IGST on 1st January 2019. on the same date, Ravinder Kaur drew a BILL ON Harjinder Kaur for 2 months which was duly accepted by Harjinder Kaur. Ravinder Kaur endorsed the bill in favor of Baljinder Kaur on 10TH January 2019. on the due date, Harjinder Kaur met her acceptance. Record the above transition in the book of Ravinder Kaur and Harjinder

The solution of Question No 21 Chapter No 15: -

In the books of Ravinder Kaur (Drawer)

Date	Particulars		Debit	Credit
2018
Jan.1	Harjinder Kaur A/c	Dr.	22,400
	To Sales A/c			20,000
	To Output IGST A/c			2,400
	(Being goods sold on credit)

Jan.1	Bill Receivable A/c	Dr.	22,400
	To Harjinder Kaur A/c			22,400
	(Being Acceptance received)

Jan.10	Baljinder Kaur A/c	Dr.	22,400
	To Bill Receivable A/c			22,400
	(Being bill endorsed to Baljinder Kaur )

In the books of Harjinder Kaur (Drawee)

Date	Particulars		Debit	Credit
2018
Jan.1	Purchases A/c	Dr.	20,000
	Input IGST A/c	Dr.	2,400
	To Ravinder Kaur A/c			22,400
	(Being goods purchased on credit .)

Jan.1	Ravinder Kaur A/c	Dr.	22,400
	To Bill Payable A/c			22,400
	(Being acceptance given for three months)

Mar.4	Bill Payable A/c	Dr.	22,400
	To Cash A/c			22,400
	(Being bill met on Maturity)