For the amount receivable Ms. Jaya draws a bill on Ms. Maya, on 1st January, 2010 for Rs 54,000, for a period of 4 months.
Jaya draws a new bill for the balance plus interest @ 12% p. a. for two months on 4th May, 2010 as per the request and received the accepted bill from Maya.
Pass Journal entries in the books of Ms. Jaya and show Ms. Jaya's account in the books of Ms. Maya.
Journalise the following transactions in the books of Kedarnath:
1. Badrinath informs Kedarnath that Aloknath's Acceptance of Rs. 16,000 endorsed to Badrinath has been dishonoured and noting charges amounted to Rs. 500.
2. Somnath renews his acceptance of Rs. 14,400 to Kedarnath by paying cash Rs. 4,400 and accepting a new bill for 2 months for the balance plus interest @ 12% p.a.
3. Vishwanath retired his acceptance for Rs. 10,500 to Kedarnath by paying in cash Rs. 10,250
4. Recovered only 50% of the amount due from his private estate of Ramnath, who declared as insolvent, against his bill of Rs. 12,500.
Journalise the following transactions in the book's of Bhaskar.
(a) Suresh informed Bhaskar that Nishad's acceptance for Rs. 2,500 endorsed to Suresh has been dishonoured and noting charges amounted to Rs. 25.
(b) Rajesh renews his acceptance to Bhaskar for Rs. 7,500 by paying Rs. 2,500 in cash and accepting a fresh bill for the balance plus interest @ 10% p. a. for three months.
(c) Mandar retired his acceptance to Bhaskar for Rs. 3,800 by paying Rs. 3,750 in cash.
(d) Bhaskar sent a bill of Dayaram for Rs. 5,000 to the bank for collection. But the bank informed that the bill has been dishonoured by Dayaram.
Ms. Smita purchases goods from Mr. Ramesh on 1st April, 2010 for Rs 36,000. Smita accepts a bill for 2 months drawn by Ramesh for the same amount on the same day.
Smita pays Rs 18,000 in cash with noting charges.
A fresh bill drawn by Ramesh is accepted by her for the balance including interest Rs 450 for two months.
Raja made sales of goods worth Rs 40,000 to Pradhan and received a part payment of Rs 10,000.
On the same date, Raju drew on Pradhan a three months’ bill for `Rs 30,000, received the acceptance on the bill and sent the bill to the bank for collection immediately.
However, on the due date, the bill was dishonoured due to Pradhan’s insolvency and only 50% of
the amount due could be recovered from his private estate as the first and final dividend.
Give Journal Entries and Pradhan’s Account in the books of Raja.