On 1st october, 2018, X sells goods to Y for ₹ 25,000 plus IGST @ 18 % and draws tow bills of exchange on him: the first for ₹ 15,000 fo 2months and second for the balance for 3 months. Y accepts and returns these bills to X. Both the bills are sent to the bank for collection. in due course , X receives the infrormation from the bank that the bill for 15,000 had been duly met and the other bill has been dishonoured. Noting charges paid on the dishonour of the second bill are ₹ 500.
pass Journal entries in the books of X.

On 1st January, 2008, A sold goods to B for ₹ 1,00,000 received ₹ 25,000 in cash and drew two bills, first ₹ 45,000 and second for ₹ 30,000 of two months each. Both bills were duly accepted by B. first bill was endorsed to C in settlement of his account of 45,000 and second bill was discounted from the bank at the rate of 12% p.a. on the due date of these bills. both bills were dishonoured. C has paid 100 and bank has paid ₹ 100 and bank has paid ₹ 80 as noting charges. pass Journal entries in the books of A, B and C.

Mohan singh draws a bill on Jagat for ₹ 1,000 payable 2 month s after date. Immediately after its acceptance, Mohan Singh sends to his the bill to his bank for collection. On due date, bank gets the payment. Make the entries in the books of all the parties.

Ram draws a bill ₹ 2,000 on Shyam on 15th September , 2018 for 3 months . On maturity, shyam failed to honour the bill. Pass the necessary Journal entries in the books of Ram and Shyam.

On 1st April 2019 , Ram sold goods to Mohan for ₹ 50,000 . On the same date, Mohan accepted a bill drawn upon him by Ram at 3 months for ₹ 50,000. on the due date, the bill was met. Give the journal entries in the books of both the parties (Ignore GST).

On 1st January, 2019 for goods sold, Ramesh drew a Bill of Exchange on Mahesh for ₹ 4,000 for a period of 3 months. Mahesh accepts it and returns to Ramehs then endorses it to Mukesh who in turn endorses it to Suresh on 1st February, 2019, the bill is then discounted by suresh on the same date with his bank at @ 5% p.a. on the due date the bill is dishonoured. Pass the necessarty Journal entries in the books of all four parties.

On 1st January, 2019, Amrit sold goods to Bhanu for ₹ 50,000 and on the same day drew upon him a bill at 3 months fot he amount. Bhanu accepted the bill and returned it to Amrit. On 4th January , 2019 Amrit discounted the bill with his bank at ₹ 49,000. on the due date, the bill was dishonoued and bank paid ₹ 1,000 as noting chares. Pass the neccessary Journal entries in the books of Amrit and Bhanu.

On 1st January , 2019 X sold goods of ₹ 20,000 to Y and drew a bill on Y at months of the amount. Y accepted the bill. The bill is met on maturity. Pass the necessary Journal entries in the books of X and Y , if X dicounted the bill @ 12% p.a. from bank on 4th January

On 15th June , 2019 X sold to Y goods to the value of ₹ 15,000 drawing upon the latter two bills, one for ₹ 10,000 payable 2 months after date and other for ₹ 5,000 payable, 3 months favour after date. X discounted the first bill with his bank at 6% p.a. and endorsed the second bill in favour of his creadtior Z. the first bill was met on maturity but the second was dishonoured. Z paid ₹ 50 as noting charges. on 1st Ocatober. Y cleared his account to X by paying ₹ 5,100 which included ₹ 50 as interset. Record the necessary Journal entries in the books of both X and Y.

On 1st January 2019 , A sold goods to B for ₹ 5,000 plus IGST @ 18% A received ₹ 900 by cheque was duly accepted by B.A retained the bill for the balance amount payable 3 months after date. The bill was duly accepted by B. A retained the bill till due date. on due date, the bill was paid. Pass Journal entries in the books of A and B Also, Show necessary accounts in the books of both the parties.