Question No 06 Chapter No 15 - USHA Publication 11 Class

Question No 06 Chapter No 15

Bill Retained till due date

6. Antony dawns a bill on Patil for Rs 6,000 on 0th January, 2019. This bill is accepted by Patil on 12th January, 2019. the bill is due 60 days after sight.
Pass the necessary journal entries in the book of the parties, assuming that the bill is met on Maturity.

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The solution of Question No 06 Chapter No 15: –

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

The solution of Question No 06 Chapter No 15: –

In the books of Antony (Drawer)
Date	Particulars		L.F.	Debit	Credit
2018
Jan.12	Bills Receivable A/c	Dr.		6,000
	To Patil A/c				6,000
	(Being acceptance received for 60 days)

Mar. 16	Cash A/c	Dr.		6,000
	To Bills Receivable A/c				6,000
	(Being bill received on maturity date )

In the books of Patil (Drawee)
Date	Particulars		L.F.	Debit	Credit
2018
Jan.12	Antony A/c	Dr.		6,000
	To Bills Payable A/c				6,000
	(Being acceptance given for 60 days)

Mar. 16	Bills Payable A/c	Dr.		6,000
	To Cash A/c				6,000
	(Being bill paid on maturity date )