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Y owesX₹4000.On 1st jan,2017,Y accepts a …

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Y owesX₹4000.On 1st jan,2017,Y accepts a 3 months bill for ₹ 3900 in satisfaction of his full claim. On the same date,it was endorsed by XtoZ in satisfaction of his claim of ₹3980.The bill is dishonoured on the due date. Give journal entries in the books of X.

Posted by Sudhanshu Parida 7 years, 4 months ago

CBSE > Class 11 > Accountancy

1 answers

Pawan Joshi 7 years, 4 months ago

1 jan Y .Dr 4000 To cash 4000 1 jan B/R...... Dr.. 3900 Discount Ac...Dr 100 To Y 4000 1 jan Z ac Dr... 3980 To B/R 3900 To discont rec 80 4 April y .... Dr 3800 To Z 3800

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