The Total solution for NCERT class 6-12
Books of Neha
Journal
Date
Particulars
L.F.
Debit ₹
Credit₹
2016
01 Jan
Muskan
Dr.
20,000
To Sales A/c
(Goods tradedto Muskan)
Bills Receivable A/c
To Muskan
(Muskan’s acceptance received)
04 Feb
Cash A/c
19,800
Rebate on bill A/c
200
To Bills Receivable A/c
(Muskan’s acceptance retired one month before
maturity and allowed rebate at 12% p.a.)
Books of Muskan
Purchases A/c
To Neha
(Goods purchased from Neha)
Neha
To Bills Payable A/c
(Bill drawn by Neha payable after 2 months
accepted)
Bills Payable A/c
To Cash A/c
To Rebate on Bills A/c
(Bill paid one month before maturity and received
Rebate at 12% p.a.)