Loading Tutorstips...
✦ FREE LEARNING — CLASS 11 & 12 — CBSE · PSEB — ACCOUNTS · ECONOMICS · BST ✦
Question No 29 Chapter No 15
Dishonour of Bill
29. On 1st January 2019 Narendra Draws a bill on Rajendra for Rs 16,000 at 3 months date on account of goods supplied. Rajendra accepts the ill and returns it to Narendra who discounts the same with his bankers at 5 per cent per annum on 4th January. On the due date, the bill is dishonoured and the bank pay Rs 200 as noting charges. Enter the above transaction in the journal of all the parties.
In the books of Narendra
| Date | Particulars |
L.F. | Debit | Credit | |
|---|---|---|---|---|---|
| 2018 | |||||
| Jan.1 | Rajendra A/c | Dr. | 16,000 | ||
| To Sale A/c | 16,000 | ||||
| (Being goods sold on credit) | |||||
| Jan.1 | Bill Receivable A/c | Dr. | 16,000 | ||
| To Rajendra A/c | 16,000 | ||||
| (Being the receipt of an acceptance for 3 months) | |||||
| Jan.4 | Bank A/c | Dr. | 15,800 | ||
| Discount A/c | Dr. | 200 | |||
| To Cash A/c | 16,000 | ||||
| (Being bill sent for collection) | |||||
| Apr.4 | Rajendra A/c | Dr. | 16,200 | ||
| To Bank A/c | 16,200 | ||||
| (Being bill dishonoured on maturity, nothing charges Rs 200 paid by the bank) | |||||
In the books of Rajendra
| Date | Particulars |
L.F. | Debit | Credit | |
|---|---|---|---|---|---|
| 2018 | |||||
| Jan.1 | Purchases A/c | Dr. | 16,000 | ||
| To Narendra A/c | 16,000 | ||||
| (Being goods purchased on credit.) | |||||
| Jan.1 | Narendra A/c | Dr. | 16,000 | ||
| To Bill payable A/c | 16,000 | ||||
| (Being the bill acceptance for 3 months) | |||||
| Apr.4 | Bill Payable A/c | Dr. | 16,000 | ||
| Noting Charges A/c | Dr. | 200 | |||
| To Narendra A/c | 16,200 | ||||
| (Being the dishonour of the bill on the due date) | |||||
https://tutorstips.com/bills-receivable/
https://tutorstips.com/bills-payable/
Thanks, Please Like and share with your friends
Comment if you have any question.
Also, Check out the solved question of all Chapters: –
Chapter No. 2 - Theory Base of Accounting
Chapter No. 3 - Origin of Transactions
Chapter No. 4 - Vouchers and transactions
Chapter No. 6 - Accounting for Goods and Services Tax(GST)
Chapter No. 9 - Other Subsidiary Books
Chapter No. 10 - Journal Proper
Chapter No. 11 - Trial Balance
Chapter No. 12 - Bank Reconciliation Statement
Chapter No. 14 - Provisions and Reserves
Chapter No. 15 - Bills of Exchange
Chapter No. 16 - Rectification of Errors
Chapter No. 17 - Financial Statements - (Without Adjustments)
Accounting & Commerce Educator
Sarbjit Singh holds a B.Com and M.Com degree and has over 12 years of teaching experience in double entry bookkeeping, financial accounting, and business studies.
This guide covers "Question No 29 Chapter No 15 - USHA Publication 11 Class", focusing on key definitions, step-by-step concepts, applications, and revision guidelines relevant to USHA Publication +1 Elements of Book-Keeping.
It is primarily curated for Class 11 and Class 12 high school commerce, accounting, and economics students, as well as aspirants preparing for board exams or CA Foundation.
You can take our custom-built interactive practice quiz directly on this page to test your understanding of "Question No 29 Chapter No 15 - USHA Publication 11 Class" instantly.
