The Total solution for NCERT class 6-12
Journal Entries in the Books of Kartar
Date
Particulars
L.F.
Debit
Amount
₹
Credit
2015
15 Jan
Bhagwan
Dr.
30,000
To Sales A/c
( Goods traded to Bhagwan)
Bills Receivable A/c
10,000
To Bhagwan A/C
(Three bills of ₹ 10,000 each, received from
Bhagwan)
Ratna
To Bills Receivable A/c
(₹ 10,000 bill from Bhagwan endorsed to Ratna)
Bank A/c
9,850
Discount A/c
150
(B/R discounted)
19 Feb
Cash A/c
(First bill for one month paid by Bhagwan, on due date)
Bhagwan’s Account
Cr.
J.F.
(₹)
Sales A/c
Ratna’s Account
Balance b/d
Bills Receivable Account
Cash
Cash Account
Bills Receivable
Balance c/d
Bank’s Account
Journal Entries in the Books of Bhagwan
Purchases A/c
To Kartar
(Good bought from Kartar on credit)
Kartar
To Bills Payable A/c
(Three bill ₹ 10,000 each drawn by Kartar–
Accepted and returned them to Kartar)
Bills Payable A/c
To Cash A/c
(First bill payment completed on due date)
19 Mar
To Bank A/c
(Second bill payment completed on due date to Ratna)
19 Apr
(Third bill payment completed on due date to bank)
Kartar’s Account
Purchases
Bills Payable Account
15 Mar
20,000