Question No 06 Chapter No 13 – D.K Goal 11 Class

Question No 06 Chapter No 13

Question No 06 Chapter No 13

Free Accounting book Solution - Class 11 and Class 12

Sending the Bill to Bank for Collection

06. On 10th January 2017, A sells goods to B for 12,000. On that date, B accepted a bill drawn upon him by A at two months for 12,000. A retains the bill till the due date and on due date sends the bill to the Banker for collection. In due course, A receives the information from the Bank that the bill has been duly met.
Pass Journal Entries in the books of A and B.

The solution of Question No 06 Chapter No 13: –

In the books of A (Drawer)
Date   Particulars
L.F. Debit Credit
2019          
Jan.10 B A/c Dr.   12,000  
  To Sale A/c       12,000
  (Being B accepted bill)        
           
Jan.10 Bills Receivable A/c Dr.   12,000  
  To B A/c       12,000
  (Being B accepted the bill)        
           
Mar. 13 Bill Sent for Collection A/c Dr.   12,000  
  To Bills Receivable A/c       12,000
  (Being Bills sent to bank for collection)        
           
Mar. 13 Bank A/c Dr.   12,000  
  To Bills Sent for Collection A/c       12,000
  (Being Bill honoured on maturity)        
         
In the books of B (Drawee)
Date   Particulars
L.F. Debit Credit
2019          
Jan. 10 Purchases A/c Dr.   12,000  
  To A A/c       12,000
  (Being Goods purchased from A)        
           
Jan. 10 A A/c Dr.   12,000  
  To Bills Payable A/c       12,000
  (Being Bill drawn by A, accepted)        
           
Mar. 13 Bills Payable A/c Dr.   12,000  
  To Cash A/c       12,000
  (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

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ISC Accounts 11 20 Image min 197x300 - Question No 06 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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