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Question No 28 Chapter No 15 - USHA Publication 11 Class

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Question No 28 Chapter No 15

Dishonour of Bill

28. On 1st January 2018 Dev Raj sold good to Sita ram to the value of Rs 1,500 taking a bill at 3 months for the amount. On maturity, the bill was dishonoured. Dev Raj paid Rs 10 as noting charges. On 15th April 2018 Sita Ram cleared his account by Paying Rs 1,510. make entries in the book of both the parties to record the transaction

The solution of Question No 28 Chapter No 15: -

In the books of Dev raj

Date	Particulars		Debit	Credit
2018
Jan.1	Sita Ram A/c	Dr.	1,500
	To Sale A/c			1,500
	(Being goods sold on credit )

Jan.1	Bill Receivable A/c	Dr.	1,500
	To Sita Ram A/c			1,500
	(Being the receipt of an acceptance from Bhanu for 3 months)

Apr.4	Sita Ram A/c	Dr.	1,510
	To Bill Receivable A/c			1,500
	To Noting Charges A/c			10
	(Being bill sent for collection)

Apr.15	Cash A/c	Dr.	1,510
	To Sita Ram A/c			1,510
	(Being the amount received from Sita Ram in payment of due date )

In the books of Sita Ram

Date	Particulars		Debit	Credit
2018
Jan.1	Purchases A/c	Dr.	1,500
	To Dev Ram A/c			1,500
	(Being goods purchased on credit.)

Jan.1	Dev Raj A/c	Dr.	1,500
	To Bill Payable A/c			1,500
	(Being the bill acceptance for 2 months)

Apr.4	Bill Payable A/c	Dr.	1,500
	Noting Charges A/c	Dr.	10
	To Asha A/c			1,510
	(Being the dishonour of the bill on the due date)

Apr.15	Dev Raj A/c	Dr.	1,510
	To Cash A/c			1,510
	(Being payment of the amount due)