# Question No 09 Chapter No 14 – Class 11 Unimax

Question No 09 Chapter No 14 – Class 11 Unimax

### Question No 09 Chapter No 14 – Class 11 Unimax

9.(when the bill is for collection). On 1st October 2019, X sells goods to Y for ₹ 25,000 plus IGST @ 18% and draws two bills of exchange on him: the first for ₹ 15,000 for 2 months and the second for the balance for 3 months. Y accepts and returns these bills to X. Both the bills are sent to the bank for collection. In due course, X receives the information from the bank that the bill for ₹ 15,000 has been duly met and the other bill has been dishonoured. Nothing charges paid on the dishonoured of the second bill are ₹ 500.
Pass journal entries in the books of X.

## The solution of Question No 09 Chapter No 14 – UNIMAX Class 11

 Journal for Mr. ‘X’ (Drawer) Date Particulars L.F. Debit Credit 2019 Oct.1 Y’s A/c Dr. 29,500 To Sales A/c 25,000 To Output IGST A/c 4,500 (Being the inter-state sale of goods to Y, charged IGST @ 18%) Oct.1 Bill receivable (No.1) A/c Dr. 15,000 Bill receivable (No.2) A/c Dr. 14,500 To Y’s A/c 29,500 (Being the two bills acceptance- one for ₹ 15,000 and other for ₹ 14,500 received) Dec.1 Bill sent for collection A/c Dr. 29,500 To Bill receivable (No.1) A/c 15,000 To Bill receivable (No.2) A/c 14,500 (Being the bill sent to bank for collection) 2020 Jan.1 Y’s A/c Dr. 15,000 To Bill sent for collection A/c 14,500 To Bank A/c 500 (Being the second bill dishonoured and bank paid ₹ 500 as noting charges)

Bill of Exchange (BOE): Meaning and Examples

Also, Check out the same article in Hindi from the following link

Bill of Exchange (BOE): Meaning and Examples

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

## Advanced Accountancy – Unimax Class 11 – 2021 – Solution.

Part-I

Students may choose only one part from the Part II and Part III

Part-II

• Chapter No. 15 – Financial Statements (Without Adjustments)
• Chapter No. 16 – Financial Statements (With Adjustments)
• Chapter No. 17 – Accounts from Incomplete Records –  Single Entry System

Part-III

• Chapter No. 18 – Introduction to Computers and Accounting information System
• Chapter No. 19 – Computerised Accounting
• Chapter No. 20 – Accounting Software: Tally
• Chapter No. 21 – Data Base System
• Chapter No. 22 – Concept of Entity and Relationship