Question No 19 Chapter No 15 - USHA Publication 11 Class

Question No 19 Chapter No 15

Table of Contents

The solution of Question No 19 Chapter No 15: –

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

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19. Jasdev Singh sold goods o Hardev Singh on 1st February 2019 for Rs 20,000. Hardev Singh gave a promissory note to Jasdev Singh on 4th February 2019 of 3 months duration for the amount. Jasdev Singh sent the promissory note to bank for collection on 5th may 2019 which was duly collected on the due date. Bank charged Rs 300 as collection charges.
Record the enters in the books of Jasdev Singh and Hardev Singh.

The solution of Question No 19 Chapter No 15: –

In the books of Jasdev Singh (Drawer)
Date	Particulars		L.F.	Debit	Credit
2018
Feb.1	Hardev Singh A/c	Dr.		20,000
	To Sales A/c				20,000
	(Being goods sold on credit)

Feb.4	Bill Receivable A/c	Dr.		20,000
	To Hardev Singh A/c				20,000
	(Promissory note received)

May.5	Bank for collection A/c	Dr.		20,000
	To Bill Receivable A/c				20,000
	(Being bill sent to the bank for collection)

May.7	Bank A/c	Dr.		19,700
	Collection Charge A/c	Dr.		300
	To Bill Receivable A/c				20,000
	(Being bill collected and charges deducted )

In the books of Hardev Singh (Drawee)
Date	Particulars		L.F.	Debit	Credit
2018
Feb.1	Purchases A/c	Dr.		20,000
	To Jasdev Singh A/c				20,000
	(Goods purchased on credit)

Feb.1	Jasdev Singh A/c	Dr.		20,000
	To Bill Payable A/c				20,000
	(Promissory note sent)

Mar.4	Bill Payable A/c	Dr.		20,000
	To Cash A/c				20,000
	(Payment made against promissory note)