Question No 14 Chapter No 15 - USHA Publication 11 Class

Question No 14 Chapter No 15

Table of Contents

The solution of Question No 14 Chapter No 15: –

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

Bill Sent For Collection

14. Shiv Gupta a three months bill of Rs 7,500 on Anil Mathur on 1st March 2019 for the goods sold. Shiv Gupta sends this bill to bank two days before the dur date fro collection. The bill is duly collected on dur date.Pass the necessary journal entries in the books of Shiv Gupta and Anil Mathur

The solution of Question No 14 Chapter No 15: –

In the books of Shiv Gupta (Drawer)
Date	Particulars		L.F.	Debit	Credit
2018
Mar.1	Bill Receivable A/c	Dr.		7,500
	To Anil Mathur A/c				7,500
	(Being acceptance received)

Jun.2	Bank for collection A/c	Dr.		7,500
	To Bills receivable A/c				7,500
	(Being bill sent for collection)

Jun.2	Bank A/c	Dr.		7,500
	To Bank for collection A/c				7,500
	(Being payment of bill collected by bank on due date)

In the books of Anil Mathur (Drawee)
Date	Particulars		L.F.	Debit	Credit
2018
Mar.1	Shiv Gupta A/c	Dr.		7,500
	To Bill Payable A/c				7,500
	(Being purchases goods on credit)

Jun.4	Bills payable A/c	Dr.		7,500
	To Cash A/c				7,500
	(Being bill paid on Maturity)