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Question
Calculate the amount of bills receivable during the year.
|
|
Rs |
|
Opening balance of bills receivable |
75,000 |
|
Bill dishonoured |
25,000 |
|
Bills collected (honoured) |
1,30,000 |
|
Bills receivable endorsed to creditors |
15,000 |
|
Closing balance of bills receivable |
65,000 |
Journal Entry
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Solution
|
Bills Receivable Account |
||||
|
Dr. |
Cr. |
|||
|
Particulars |
Amount |
Particulars |
Amount |
|
|
Balance b/d |
75,000 |
Debtors |
25,000 |
|
|
Cash/Bank (honoured) |
1,30,000 |
|||
|
Creditors (endorsed) |
15,000 |
|||
|
Debtors (B/R received) |
1,60,000 |
Balance c/d |
65,000 |
|
|
(Balancing figure) |
||||
|
2,35,000 |
2,35,000 |
|||
Bills receivable received from Debtors Rs 1,60,000.
shaalaa.com
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