Please submit the answer as soon as possible. Its urgent
Dear Student,
| Date. | Particulars | L.F. | Amount(Dr.) (Rs.) |
Amount(Cr.) (Rs.) |
|
|---|---|---|---|---|---|
| Ray To Bob (Ray’s acceptance endorsed to Bob dishonored on due date noting charges paid by Bob Rs.40) |
Dr. | 3,040 | 3,040 |
||
| Bob Interest A/c To Cash To Bills Payable A/c (Amount payable to Bob Rs.3,040 settled by cash payment Rs.1,000 and issue of new bill for Rs.2,091 including interest Rs.51 for three months on Rs.2,040 @ 10% p.a.) |
Dr. Dr. |
3,040 51 |
1,000 2,091 |
||
| Bills Receivable A/c To Ray To Interest (Bill received from Ray for Rs.3,040due against earlier acceptance dishonored plus Rs.60.80 interest for two months @ 12% p.a.) |
Dr. | 3,100.80 | 3,040 60.80 |
||
| Bills payable A/c To Bills Receivable A/c To Discount A/c (Settlement of acceptance issued to Mr. Singh by the endorsement of John’s Acceptance for Rs.4,450) |
Dr. | 4,500 | 4,450 50 |
Regards