Question No 05 Chapter No 15 - USHA Publication 11 Class

Question No 05 Chapter No 15

Table of Contents

The solution of Question No 05 Chapter No 15: –

Usha Publication – Elements of Book-Keeping PSEB (Class 11) – Solution

Bill Retained till due date

5. On 30th November 2018, Mamta Drawn on Mayawati a bill for Rs 3,000. Mamta accepts this bill on 4th December 2018 and returns it to Mamta. The bill is due 3 months after date.
Pass the journal entries in the book of Both the parties, assuming that the bill is duly honoured on the due date.

The solution of Question No 05 Chapter No 15: –

In the books of Mamta (Drawer)
Date	Particulars		L.F.	Debit	Credit
2018
Nov.30	Bills Receivable A/c	Dr.		3,000
	To Mayawati A/c				3,000
	(Being acceptance received for 2 months)

Mar. 03	Cash A/c	Dr.		3,000
	To Bills Receivable A/c				3,000
	(Being bill received on maturity date )

In the books of Mayawati (Drawee)
Date	Particulars		L.F.	Debit	Credit
2018
Nov.30	Mamta A/c	Dr.		3,000
	To Bills Payable A/c				3,000
	(Being acceptance given for 2 months)

Mar. 03	Bills Payable A/c	Dr.		3,000
	To Cash A/c				3,000
	(Being bill paid on maturity date )