Question No 13 Chapter No 15 - USHA Publication 11 Class

Question No 13 Chapter No 15

Table of Contents

The solution of Question No 13 Chapter No 15: –

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

Endorsement of Bill

13. On 15th August 2017. a sold goods to B for Rs 15,000 and drew upon him a three months bill for the amount. B accepted the bill. After 10 days. A endorsed the bill to his creditor C. on the due date, the acceptance was duly met.Pass journal entries in the book of A, B, and C.

The solution of Question No 13 Chapter No 15: –

In the books of A (Drawer)
Date	Particulars		L.F.	Debit	Credit
2018
Aug.15	B A/c	Dr.		15,000
	To Sale A/c				15,000
	(Being goods sold on credit)

Aug.15	Bills receivable A/c	Dr.		15,000
	To B A/c				15,000
	(Being bill drawn on B)

Aug.25	C A/c	Dr.		15,000
	To Bills receivable A/c				15,000
	(Being bill endorsed to C)

In the books of B (Drawer)
Date	Particulars		L.F.	Debit	Credit
2018
Aug.15	Purchases A/c	Dr.		15,000
	To A A/c				15,000
	(Being purchases goods from A on credit)

Aug.15	A A/c	Dr.		15,000
	To Bills Receivable A/c				15,000
	(Being bill received from A )

Nov. 18	Bills payable A/c	Dr.		15,000
	To Cash A/c				15,000
	(Being bill paid on Maturity)

In the books of C
Date	Particulars		L.F.	Debit	Credit
2018
Aug.25	Bills receivable A/c	Dr.		15,000
	To A A/c				15,000
	(Being endorsed bill received from A)

Nov. 18	Bills payable A/c	Dr.		15,000
	To Cash A/c				15,000
	(Being bill paid on Maturity)