Question No 03 Chapter No 13 – D.K Goal 11 Class

Question No 03 Chapter No 13

Question No 03 Chapter No 13

Free Accounting book Solution - Class 11 and Class 12

03. On 1st January 2019, Ajay sold goods to Bhushan for 50,000. Ajay draws a bill of exchange for two months for the amount due which Bhushan accepts and returns it to Ajay. Bhushan met the bill on the due date. Pass Journal entries in the books of Ajay and
Bhushan.

The solution of Question No 03 Chapter No 13: –

In the books of Ajay(Drawer)
Date   Particulars
L.F. Debit Credit
2019          
Jan.1 Bhushan A/c Dr.   50,000  
  To Sale A/c       50,000
  (Being Goods sold to Bhushan)        
           
Jan.1 Bills Receivable A/c Dr.   50,000  
  To Bhushan A/c       50,000
  (Being Bhushan accepted the bill )        
           
Mar.4 Cash A/c Dr.   50,000  
  To Bill Receivable A/c       50,000
  (Being Bill honoured on maturity)        
         
In the books of Bhushan(Drawee)
Date   Particulars
L.F. Debit Credit
2019          
Jan.1 Purchase A/c Dr.   50,000  
  To Ajay A/c       50,000
  (Being Goods purchased from Ajay)        
           
Jan.1 Ajay A/c Dr.   50,000  
  To Bills Payable A/c       50,000
  (Being Bill drawn by Ajay, accepted)        
           
Mar.4 Bills Payable A/c Dr.   50,000  
  To Cash A/c       50,000
  (Being Bill honoured on maturity)        
         

Bills Payable Book | Subsidiary Books | Examples

Also, Check out the solved question of all Chapters: –

D K Goel – New ISC Accountancy -(Class 11 – ICSE)- Solution

Check out the Accountancy Class +1 by D.K. Goal (Arya Publication) from their official Site.

ISC Accounts 11 20 Image min 197x300 - Question No 03 Chapter No 13 - D.K Goal 11 Class
D K Goel accountancy +1 – ISC_Accounts_11_20_ImageQuestion No 42 Chapter No 11 – D.K Goal 11 Class

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