The Total solution for NCERT class 6-12
Books of Raghu
Journal
Date
Particulars
L.F.
Debit ₹
Credit₹
2016
15 Jan
Devendra
Dr.
35,000
To Sales A/c
(Goods tradedto Devendra)
Bills Receivable A/c
To Devendra
(Three bills received from Devendra–the first bill ₹ 5,000,
the second bill ₹ 20,000, the third bill ₹ 10,000)
Dewan
5,200
To Bills Receivable A/c
5,000
To Discount Received A/c
200
(The first bill endorsed to Dewan in full settlement
of amount due to him)
Bank A/c
19,700
Discount A/c
300
20,000
(The second bill discounted with bank at 6% p.a.)
18 Apr
20,030
To Bank A/c
(The second bill dishonoured and bank paid
₹ 30 for noting charges)
14 May
Bill Sent for Collection A/c
10,000
(The third bill sent to bank for collection)
18 May
10,200
To Bill sent for collection A/c
(The third bill dishonoured and bank paid ₹ 200
as noting charges)
23 May
1,000
To Interest A/c
(Interest due to Devendra on account of bills
dishonoured)
Cash A/c
31,230
(Cash received from Devendra)
Ledger
Devendra’s Account
Cr.
J.F.
Amount ₹
Sales
Bills Receivable
Bank
Cash
Bills Sent for Collection
Interest
66,230
Books of Devendra
Purchases A/c
To Raghu
(Goods purchased from Raghu)
Raghu
To Bills Payable A/c
(Three bills drawn by Raghu accepted: the first bill for
₹ 5,000 payable after one month, the second for ₹ 20,000
payable after 3 months and the third for ₹ 10,000
payable after 4 months)
18 Feb
Bills Payable A/c
To Cash
(The first bill discharged on the due date)
Noting Charges A/c
30
(The second bill dishonoured and Noting Charges
₹ 30)
(The third bill dishonoured and Noting Charges ₹ 200)
Interest A/c
(Interest charged ₹ 1,000 on account of
bills dishonoured)
To Bank Loan A/c
(Bank loan taken for settling Raghu’s account)
To Cash A/c
(Cash paid to Raghu)
Raghu’s Account
Amount
₹
Bills Payable
Purchases
Noting Charges
Books of Dewan
Discount Allowed A/c
(Bill Receivable received from Raghu for one month and
allowed him discount of ₹ 200)
(Bill met on maturity)