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17. A sold goods to the …

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17. A sold goods to the value of 120,000 to B taking a bill at three months dated July 1 2010 on 4 th August , A discounted the bill at 5% per annum with his banker. At maturity the bill was returned by the bankers dushonoured with 1000 expenses. B paid 30000 and gave a another bill at three months for 93000 including expenses and interest. But before maturity he had become insolvent and ultimately paid his creditors 75 paise in the rupee. Make the entries in A’s Journal recording the above transactions.

Posted by Gourav Rawat 3 years, 11 months ago

CBSE > Class 11 > Accountancy

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