Question

Sukhdev sold goods to Namdev worth ₹ 30000 on 1st March 2013. Namdev accepted a bill for three months , drawn by Sukhdev on 1st March 2013.
Namdev requested on 21st May 2013 to Sukhdev to receive ₹ 10000 and to draw a new bill for the balance for two months. Sukhdev agreed on condition that interest at 12 5 p.a. for two months is to be provided. 
Sukhdev then drew a new bill for balance amount plus interest at 12 % p.a. for two months .
Namdev accepted the new bill. On due date the new bill was honoured.

Give journal entries in the books of Sukhdev.

Answer 1

Journal Entries in the Books of Sukhdev. [Drawer]

Date	Particulars	L.F.	Debit (Rs.)	Credit (Rs.)
1.3.13	Namdev A/c ... Dr.		30000
	To Sales A/c			30000
	[Being Goods are sold on credit]
1.3.13	Bills Receivable A/c ... Dr.		30000
	To Namdev A/c			30000
	[Being the bill is drawn]
21.5.13	Namdev A/c ... Dr.		30000
	To Bills Receivable A/c			30000
	[Being the bill is dishonoured]
21.5.13	Namdev A/c ... Dr.		400
	To Interest A/c			400
	[Being the Interst is charged on Balance Amount]
21.5.13	Cash/Bank  A/c ... Dr.		10000
	To Namdev A/c			10000
	[Being the part payment is made]
21.5.13	Bills Receivable A/c ... Dr.		20400
	To Namdev A/c			20400
	[Being the new bill is drawn along the interest]
24.7.13	Cash / Bank A/c ... Dr.		20400
	To Bills Receivable A/c			20400
	[Being the new bill is duly honoured]