Question

Calculate the amount of bills receivable dishonoured from the following information.

	Rs
Opening balance of bills receivable	1,20,000
Bills collected (honoured)	1,85,000
Bills receivable endorsed	22,800
Closing balance of bills receivable	50,700
Bills receivable received	1,50,000

Answer 1

Bills Receivable Account
Dr.				Cr.
Particulars	Amount Rs		Particulars	Amount Rs
Balance b/d	1,20,000		Cash/Bank (honoured)	1,85,000
			Creditors (endorsed)	22,800
			Balance c/d	50,700
Debtors (B/R received)	1,50,000		Debtors (dishonoured)	11,500
(Balancing figure)			(Balancing figure)
	2,70,000			2,70,000

Bills Receivable dishonoured isRs 11,500.