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प्रश्न
On 1st August, 2012 Omprakash drew a bill of Rs 10,000 for 60 days after date on Sharadchandra. On 15th August, 2012 Omprakash purchased goods from Hariprasad for Rs 12,000. On the same date Omprakash endorsed Sharadchandra’s bill in favour of Hariprasad and paid the balance by cheque at 1% cash discount. On the same date Hariprasad discounted the bill with his bank for Rs 9,500.
On the due date Sharadchandra honoured his acceptance presented by Hariprasad.You are required to pass journal entries in the books of Omprakash, Sharadchandra and Hariprasad.
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उत्तर
Books of Omprakash
Journal Entry
| Date | Particulars | L.F. | Debit Amount Rs. | Credit Amount Rs. |
|
2012 Aug.01 |
Bills Receivable A/c Dr. To Sharadchandra A/c (Bill drawn and accepted) |
10,000 | 10,000 | |
| Aug.15 | Purchases A/c Dr. To Hariprasad A/c (Goods purchased from Harichandra on credit) |
12,000 | 12,000 | |
| Aug.15 | Hariprasad A/c Dr. To Bank A/c To Discount Received A/c To Bills Receivable A/c (Bill endorsed to Hariprasad, and rest of the amount paid by cheque at cash discount of 1%) |
12,000 | 1,980 20 10,000 |
Books of Sharadchandra
Journal Entry
| Date | Particulars | L.F. | Debit Amount Rs. | Credit Amount Rs. |
| 2012 Aug.01 |
Omprakash A/c Dr. To Bills Payable A/c (Bill Accepted) |
10,000 | 10,000 | |
| Oct.03 | Bills Payable A/c Dr. To Cash/Bank A/c (Amount of bill paid on maturity) |
10,000 | 10,000 |
Books Of Hariprasad
Journal Entry
| Date | Particulars | L.F. | Debit Amount (Rs.) | Credit Amount (Rs.) |
| 2012 Aug 15 |
Omprakash A/c Dr. To Sales A/c (Goods sold to Omprakash) |
12,000 | 12,000 | |
| Aug.15 | Bank A/c Dr. Discount A/c Dr. Bills Receivable A/c Dr. To Omprakash A/c (Endorsed bill accepted for Rs.10,000 an rest of the amount received in cash after allowing cash discount of 1%) |
1,980 20 10,000 |
12,000 | |
| Oct.03 | Cash/Bank A/c Dr. To Bill Receivable A/c (Endorsed bill honoured on due date) |
10,000 | 10,000 |
