Page 93 - DCOM101_FINANCIAL_ACCOUNTING_I

Unit 8: Subsidiary Books

Rohit A/c Notes
Dr. Cr.
Date Particulars ` Date Particulars `

2003 2003
Aug. 27 To Purchases Returns A/c 1,500 Aug. 5 By Purchases A/c 1,500
Aug. 31 To Balance c/d 1,350
1,500 1,500

Sept. 1 To Balance b/d 1,350

Sumit A/c
Dr. Cr.
Date Particulars ` Date Particulars `

2003 To Balance c/d 900 2003
Aug. 3 1 Aug. 22 By Purchases A/c 900
900 900

Sept. 1 To Balance b/d 900

Illustration 6: Enter the following transactions in the Bills Receivable Book and post the same in
the relevant ledger accounts.
1998
Aug. 1 Received from Raj a bill duly accepted for ` 1,500 Payable 3 month after date.
Aug. 9 Drew a 2 months bills on Rakesh for ` 1,200 which was duly accepted and has been
discounted.
Aug. 19 Ajay accepted a 3 month bill drawn by us for `1,100 payable at Canara Bank,
Salem.

Solution:

Bills Receivable Book
SI. Date of Receipt L.F. Drawer Acceptor Term Due Date ` Remarks
No.
1. Aug. 1, 1998 Self Raj 3 mths. Nov. 4, ‘98 1,500 -
2. Aug. 9,1998 Self Rakesh 2 mths. Oct.12,’98 1,200 Discounted
3. Aug. 19,1998 Self Ajay 3 mths. Nov. 22,’98 1,100 -

3,800
Ledger

Bills Receivable A/c
Dr. Cr.
Date Particulars ` Date Particulars `
1998
Aug. 3 1 To Sundries 3,800 Aug. 3 1 By Balance c/d 3,800
3,800 3,800
Sept. 1 To Balance b/d 3,800

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