The Total solution for NCERT class 6-12
(i)
Books of Darshan
Date
Particulars
L.F.
Debit
Amount
₹
Credit
2016
08 Jan
Varun
Dr.
40,000
To Sales A/c
(Goods traded to Varun)
Bills Receivable A/c
To Varun
(Bill of Exchange duly accepted and returned by Varun)
11 Mar
Cash A/c
To Bills Receivable A/c
(Payment for B/R received for B/R)
Books of Varun
L.F
Debit ₹
Credit₹
Purchases A/c
To Darshan
(Goods purchased from Darshan)
Darshan
To Bills Payable A/c
(Bill of two months accepted for Darshan)
Bills Payable A/c
To Cash A/c
(Varun cleared his payment on the due date)
(ii)
(B/R received from Varun for two months)
Bank A/c
39,600
Discount A/c
400
(B/R discounted from bank @ 6 p.a.)
To Bank A/c
(Varun cleared his payment on the
due date)
(iii)
To Varun A/c
(Varun’s approval received for two months)
Suresh A/c
(Varun’s approval endorsed in favour of Suresh)
(Bill drawn by Darshan accepted for two months)
(Bill paid to the holder of bill)
(iv)
Varun A/c
08 Mar
Bill Sent for Collection A/c
(Bill of Exchange sent for collection to bank)
To Bill Sent for Collection A/c
(Bill of Exchange matured and duly collected on date of maturity)
(Bill of Exchange duly accepted and returned to Darshan)
(Bill of Exchange matured and duly cleared on date of maturity)