Page 94 - DCOM101_FINANCIAL_ACCOUNTING_I

Financial Accounting-I

Notes Raj’s A/c
Dr. Cr.
Date Particulars ` Date Particulars `
1998 1998 By Bills Receivable A/c 1,500
Aug. 1

Rakesh’s A/c
Dr. Cr.
Date Particulars ` Date Particulars `
1998 1998 By Bills Receivable A/c 1,200
Aug. 9

Ajay’s A/c
Dr. Cr.
Date Particulars ` Date Particulars `
1998 1998 By Bills Receivable A/c 1,100
Aug. 19
Illustration 7: Enter the following in the Bills Payable Book and post them in the ledger.

1998
Sept. 1 We accept Sundar & Go’s, bill for ` 1,000,2 months duration payable at Bank of
India.

Sept. 21 Maduri & Co. drew on us a 3 months bill for `2,050 which we accepted and
returned.
Sept. 28 Swami’s bill for ` 1,200 accepted by us, the bill being due after 3 months

Bill Payable Book
SI. Date of Drawer Payee L.F. Where Date of Term Due ` Remarks
No. Acceptance Payable bill Date
1. Sept. 1, 1998 Sundar Sundar Bank of Sept. 1, 2 mth. Nov. 4, 1,000 -
&Co. &Co. India 1998 1998
2. Sept. 21, 1998 Maduri Maduri Bank of Sept. 21, 3 mth. Dec. 24, 2,050 Returned
&Co. &Co. India 1998 1998
3. Sept. 28, 1998 Swami Swami Bank of Sept. 28, 3 mth. Dec. 31, 1,200 -
India 1998 1998
4,250

Ledger
Bills Payable A/c
Dr. Cr.
Date Particulars ` Date Particulars `
1998 30 To Balance c/d 4,250 Sept. 30 By Sundries By 4,250
Sept. 4,250 4,250
Oct. 1 Balance b/d 4,250

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