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Y Purchased goods for ₹ 6000 on 1st Jun...

Y Purchased goods for ₹ 6000 on 1st June , 2011 from Xand on the same date accepted a bill payable after three months. 3 days later, X endorsed the bill to Z. on maturity, the bill was dishonoured for non-payment and Z had to pay ₹ 50 as noting charges. Two days after the dishonour of bill, Y paid ₹ 2000 to X and requested hinm to draw a second bill for the balance plus ₹ 90 for the amount of interset, payable after two months. X accepted the proposal and draws the bill on Y, which was accepted by Y and was duly met on maturity. pass Journal entries for the above transactions in the of X.

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TS GREWAL-ACCOUNTING FOR BILLS OF EXCHANGE-Practical Problems
  1. Y owes X ₹ 4,000 on 1st January 2019 Y accepts a 3 months bill for ₹ 3...

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  2. On 1st January , 2019 A draws a bill in B for ₹ 1,000 payable after 3 ...

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  3. A bill for ₹ 1,000 is drawn by A and B and accepted by the latter paya...

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  4. On 1st January, 2019 for goods sold, Ramesh drew a Bill of Exchange on...

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  5. A purchases goods worth ₹ 6,200 from B and gives him his acceptance fo...

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  6. X sells goods for ₹ 40,000 to Y on 1st January , 2019 and on the same ...

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  7. Ram owes ₹ 2,000 to Mohan on 1st January 2019 on this date, he accepte...

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  8. On 15th June , 2019 X sold to Y goods to the value of ₹ 15,000 drawing...

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  9. X draws a bill on Y for ₹ 2,000 on 1st January , 2019 Y accepts the ...

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  10. On 1st june 2019, A sold goods at B for ₹250. B gave to A his acceptan...

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  11. A sold goods to B 1st september , 2018 for ₹ 16,000. B immediately acc...

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  12. On 1st May,2019 Merchant & Co sold goods to AB & Co. Valued at ₹ 500 a...

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  13. A owed B ₹ 400. A accepted a Bill of Exchange at 3 months for this amo...

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  14. Amar sells goods to Bhola for ₹ 10,000 and draws upon him a bill for t...

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  15. Give the Joural entries for the following (a) B's acceptance to us f...

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  16. Leena sold goods to Meena on 1st March , 2009 for ₹ 68,000 and drew tw...

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  17. How will you record the following of transactions in the books of Ka...

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  18. Y Purchased goods for ₹ 6000 on 1st June , 2011 from Xand on the same...

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  19. On 1st January, 2008, A sold goods to B for ₹ 1,00,000 received ₹ 2...

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  20. Amar sells goods to Bhola for ₹ 10,000 plus CGST and SGST @ 9% each. H...

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