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#### Question 1:

Calculate the due dates of the bills in the following cases:

 Date of Bill Tenure (Period) (i) 1st December, 2018 60 Days (ii) 30th April, 2019 2 Months (iii) 28th January, 2019 1 Month (iv) 23rd November, 2018 2 Months (v) 29th May, 2018 4 Months
â€‹

 Date of Bill Tenure Calculation Due Date (i) December 01, 2018 60 Days 30 (December) + 30 (January) + 3 days of grace February 02, 2019 (ii) April 30, 2019 2 Months 2 Months from April 30, 2019 would be June 30, 2019 + 3 days of grace July 03, 2019 (iii) January 28, 2019 1 Month 1 Month from January 28, 2019 would be February 28, 2019 + 3 days of grace March 03, 2019 (iv) November 23, 2018 2 Months 2 Months from November 23, 2018 would be January 23, 2019 + 3 days of grace January 26, 2019, but it is a national holiday so, due date would be one day before i.e., January 25, 2019 (v) May 29, 2018 4 Months 4 Months from May 29, 2019 would be September 29, 2019 + 3 days of grace October 02, 2019 but it is a national holiday so, due date would be one day before i.e., October 01, 2019

#### Question 2:

On 10th March, 2019, A draws on B a bill at 3 months for â‚¹ 20,000 which B accepts immediately and returns to A. The bill is honoured due date.
â€‹Pass necessary Journal entries in the books of both the parties.

 Journal in the books of A (Drawer) Date Particulars L.F. Debit Amount (â‚¹) Credit Amount (â‚¹) 2019 Mar 10 Bills Receivable A/c Dr. 20,000 To B’s A/c 20,000 (Bill received) June 13 Cash A/c Dr. 20,000 To Bills Receivable A/c 20,000 (Cash received against bill)

 Journal in the books of B (Drawee) Date Particulars L.F. Debit Amount (â‚¹) Credit Amount (â‚¹) 2019 Mar 10 A A/c Dr. 20,000 To Bills Payable A/c 20,000 (Bill accepted) June 13 Bills Payable A/c Dr. 20,000 To Cash A/c 20,000 (Cash paid against bill)

#### Question 3:

On 1st January, 2019, A sold goods to B for â‚¹ 5,000 plus IGST @ 18%. A received â‚¹ 900 by cheque from B and drew on him a 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.

 Books of A Journal Date Particulars L.F. Debit Amount (â‚¹) Credit Amount (â‚¹) 2019 Jan.01 B Dr. 5,900 To Sales A/c To Output IGST A/c 5,000 900 (Goods sold to B plus IGST @ 18%) Jan.01 Bills Receivable A/c Bank A/c Dr. Dr. 5,000 900 To B 5,000 (B accepted the bill and paid IGST by cheque) Apr.04 Cash A/c Dr. 5,000 To Bills Receivable A/c 5,000 (Amount of bill received on its maturity)

 Books of B Journal Date Particulars L.F. Debit Amount (â‚¹) Credit Amount (â‚¹) 2019 Jan.01 Purchases A/c Input IGST A/c Dr. Dr. 5,000 900 To A 5,900 (Goods bought from A plus IGST @ 18%) Jan.01 A Dr. 5,900 To Bills Payable A/c To Bank A/c 5,000 900 (Bill drawn by A accepted and IGST paid by cheque) Apr.04 Bills Payable A/c Dr. 5,000 To Cash A/c 5,000 (Payment of bill was made on its due date )

#### Question 4:

Vinod sold goods to Darbara Singh for â‚¹ 1,000 on 1st January, 2019. He drew on the latter a bill for the amount payable 3 months after date.He discounted the bill with his bank for â‚¹ 990 on 4th January, 2019. On maturity, the bill is duly met. Make the Journal entries in the books of Vinod and Darbara Singh.

 Books of Vinod Journal Date Particulars L.F. Debit Amount (â‚¹) Credit Amount (â‚¹) 2019 Jan.1 Darbara Singh Dr. 1,000 To Sales A/c 1,000 (Goods sold to Darbara Singh) Jan.1 Bills Receivable A/c Dr. 1,000 To Darbara Singh 1,000 (Bills accepted by Darbara Singh) Jan.4 Bank A/c Dr. 990 Discount Charges A/c Dr. 10 To Bills Receivable A/c 1,000 (Darbara Singh’s acceptance discounted at 9% p.a. for 3 month)

 Books of Darbara Singh Journal Date Particulars L.F. Debit Amount (â‚¹) Credit Amount (â‚¹) 2019 Jan.1 Purchases A/c Dr. 1,000 To Vinod 1,000 (Goods bought from Vinod ) Jan.1 Vinod Dr. 1,000 To Bills Payable A/c 1,000 (Bill drawn by Vinod accepted) Mar.4 Bills Payable A/c Dr. 1,000 To Bank A/c 1,000 (Payment of bill was made on its due date.)

#### Question 5:

On 1st January, 2019, X sold goods of â‚¹ 20,000 to Y and drew a bill on Y at three months for 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 discounted the bill @ 12% p.a. from bank on 4th January.

 In the books  of X Journal Date Particulars L.F. Debit Amount (â‚¹) Credit Amount (â‚¹) 2019 January 01 Y’s A/c Dr. 20,000 To Sales A/c 20,000 (Being goods sold to Y on credit) January 01 Bills Receivable A/c Dr. 20,000 To Y’s A/c 20,000 (Being bill drawn on Y for three months) January 04 Bank A/c Dr. 19,400 Discounting Charges A/c Dr. 600 To Bills Receivable A/c 20,000 (Being bill discounted with bank and charges paid @12% p.a.)

Working Notes:
Discounting Charges = â‚¹ (20,000 × 12/100 × 3/12) = â‚¹ 600

 In the books  of Y Journal Date Particulars L.F. Debit Amount (â‚¹) Credit Amount (â‚¹) 2019 Jan. 01 Purchases A/c Dr. 20,000 To X’s A/c 20,000 (Being goods purchased from X on credit) Jan. 01 X’s A/c Dr. 20,000 To Bills Payable A/c 20,000 (Being acceptance given to X) April 04 Bills Payable A/c Dr. 20,000 To Bank A/c 20,000 (Being bill paid on maturity)

#### Question 6:

Dinesh received from Shridhar an acceptance for â‚¹ 3,000 on 1st September, 2018 at 3 months. Dinesh got the acceptance discounted at 9% p.a. from his bank. On the due date, Shridhar paid the required amount.
Give the Journal entries in the books of Dinesh and Shridhar.

 Books of Dinesh Date Particulars L.F. Debit Amount (â‚¹) Credit Amount (â‚¹) 2018 Sep.01 Bills Receivable A/c Dr. 3,000 To Shridhar 3,000 (Shridhar acceptance was received) Sep.01 Bank A/c Dr. 2,932.50 Discount Charges A/c Dr. 67.50 To Bills Receivable A/c 3,000 (Shridhar’s acceptance was discounted with bank)

 Books of Shridhar Date Particulars L.F. Debit Amount (â‚¹) Credit Amount (â‚¹) 2018 Sep.01 Dinesh Dr. 3,000 To Bills Payable A/c 3,000 (Bills drawn by Shridhar accepted) Dec.04 Bills Payable A/c Dr. 3,000 To Bank A/c 3,000 (Shridhar’s acceptance discharged on its due date)

#### Question 7:

A sells goods of â‚¹ 10,000 on 1st March, 2019 to B on credit. B accepts a bill on the same date for the amount payable three months after date. A discounts the bill at 6% p.a. from bank on 4th April. On maturity, the bill  is met by B. Pass the necessary Journal entries in the books of both the parties.

 In the books  of A Journal Date Particulars L.F. Debit Amount (â‚¹) Credit Amount (â‚¹) 2019 March 01 B’s A/c Dr. 10,000 To Sales A/c 10,000 (Being goods sold to B on credit) March 01 Bills Receivable A/c Dr. 10,000 To B’s A/c 10,000 (Being bill drawn on B for three months) April 04 Bank A/c Dr. 10,000 Discounting Charges A/c Dr. 100 To Bills Receivable A/c 9,900 (Being bill discounted with bank and charges paid @6% p.a.)

Working Notes:
Discounting Charges = â‚¹ (10,000 × 6/100 × 2/12) = â‚¹ 100

 In the books  of B Journal Date Particulars L.F. Debit Amount (â‚¹) Credit Amount (â‚¹) 2019 March 01 Purchases A/c Dr. 10,000 To A’s A/c 10,000 (Being goods purchased from A on credit) March 01 A’s A/c Dr. 10,000 To Bills Payable A/c 10,000 (Being acceptance given to A) June 04 Bills Payable A/c Dr. 10,000 To Bank A/c 10,000 (Being bill paid on maturity)

#### Question 8:

A drew a bill of â‚¹ 1,000 on B for 3 months which was duly accepted by the latter. A endorsed the bill to C in full payment of his own acceptance to C for a like amount. C endorsed the bill to B.
Pass the Journal entries in the books of A, B and C.

 Books of A Journal Date Particulars L.F. Debit Amount Rs Credit Amount Rs Bills Receivable A/c Dr. 1,000 To B 1,000 (B’s acceptance was received) C Dr. 1,000 To Bills Receivable A/c 1,000 (B’s acceptance endorsed in favour of C)

 Books of B Journal Date Particulars L.F. Debit Amount Rs Credit Amount Rs A Dr. 1,000 To Bills Payable A/c 1,000 (Bill drawn by A was accepted) Bills Payable A/c Dr. 1,000 To Bills Receivable A/c 1,000 (Amount owed from C was settled by Bill Payable)

 Books of C Journal Date Particulars L.F. Debit Amount Rs Credit Amount Rs Bills Receivable A/c Dr. 1,000 To A 1,000 (Bills Receivable was received from A) B Dr. 1,000 To Bills Receivable A/c 1,000 (Amount owed to B was settled by Bills Receivable)

#### Question 9:

A owed B â‚¹ 8,000. He gave a bill for the same on 1st August, 2018 payable after 4 months at the Bank of India, Chandni Chowk, Delhi. Immediately after receiving the bill, B endorsed it to C in payment of his debt. On 1st September, C discounted the bill at 12% p.a. The bill is met on due date.
Pass the necessary Journal entries in the books of A, B and C.

 Books of A Journal Date Particulars L.F. Debit Amount (â‚¹) Credit Amount (â‚¹) 2018 Aug.01 B Dr. 8,000 To Bills Payable A/c 8,000 (Bill drawn by B was accepted) Dec.04 Bills Payable A/c Dr. 8,000 To Bank A/c 8,000 (Payment made to meet the bill on its maturity)

 Books of B Journal Date Particulars L.F. Debit Amount (â‚¹) Credit Amount (â‚¹) 2018 Aug 01 Bills Receivable A/c Dr. 8,000 To A 8,000 (A’s acceptance was received) Aug 01 C Dr. 8,000 To Bills Receivable A/c 8,000 (A’s acceptance endorsed in favour of C)

 Books of C Journal Date Particulars L.F. Debit Amount (â‚¹) Credit Amount (â‚¹) 2018 Aug 01 Bills Receivable A/c Dr. 8,000 To B 8,000 (Bills Receivable was received from B) Sep 01 Bank A/c Dr. 7,760 Discount Charges A/c Dr. 240 To Bills Receivable A/c 8,000 (Bill discount at 12% p.a. for 3 months)

Working Note:

#### Question 10:

A sold goods to B for â‚¹ 20,000 plus CGST and SGST @ 9% each on credit 3 months. B paid A â‚¹ 3,600 by cheque and accepted a draft for the balance amount. The draft was endorsed in favour of C, who got the payment on maturity.
Give Journal entries in the books of A.

 Books of A Journal Date Particulars L.F. Debit Amount (â‚¹) Credit Amount (â‚¹) B Dr. 23,600 To Sales A/c To Output CGST A/c To Output SGST A/c 20,000 1,800 1,800 (Goods sold to B plus CGST and SGST @ 9% each) Bills Receivable A/c Bank A/c Dr. Dr. 20,000 3,600 To B 23,600 (B accepted the bill and paid GST by cheque) C Dr. 20,000 To Bills Receivable A/c 20,000 (B’s acceptance endorsed in favour of C)

#### Question 11:

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

 Books of Mohan Singh Journal Date Particulars L.F. Debit Amount Rs Credit Amount Rs Bills Receivable A/c Dr. 1,000 To Jagat 1,000 (Jagat acceptance was received) Bills Sent for Collection A/c Dr. 1,000 To Bills Receivable A/c 1,000 (Bill Receivable sent to bank for collection) Bank A/c Dr. 1,000 To Bills Sent for Collection A/c 1,000 (Payment of bill received by bank)

 Books of Jagat Journal Date Particulars L.F. Debit Amount Rs Credit Amount Rs Mohan Singh Dr. 1,000 To Bills Payable A/c 1,000 (Bills drawn by Mohan Singh was accepted) Bills Payable A/c Dr. 1,000 To Bank A/c 1,000 (Payment was made to meet the bill)

#### Question 12:

X draws on Y a bill for â‚¹ 4,000 which was duly accepted by Y. Y meets the bill on its due date. Show what entries would be passed in the books of X under each of the following circumstances:
(a) If X retains the bill till due date.
(b) If X discounts the same with his banker paying â‚¹ 100 for discount.
(c) If X endorses the same to his creditor Z in full settlement of his debt of â‚¹ 4,080.
(d) If X sends the bill to his banker for collection the next day.

Case (a)

 Books of X Journal Date Particulars L.F. Debit Amount Rs Credit Amount Rs Bills Receivable A/c Dr. 4,000 To Y 4,000 (Y’s acceptance was received) Cash A/c Dr. 4,000 To Bills Receivable A/c 4,000 (Amount of bill received on its maturity)

Case (b)

 Journal Date Particulars L.F. Debit Amount Rs Credit Amount Rs Bills Receivable A/c Dr. 4,000 To Y 4,000 (Y’s acceptance was received) Bank A/c Dr. 3,900 Discount Charges A/c Dr. 100 To Bills Receivable A/c 4,000 (Y’s acceptance discount with bank)

Case (c)

 Journal Date Particulars L.F. Debit Amount Rs Credit Amount Rs Bills Receivable A/c Dr. 4,000 To Y 4,000 (Y’s acceptance was received) Z Dr. 4,080 To Discount Received A/c 80 To Bills Receivable A/c 4,000 (Y’s acceptance endorsed in favour of Z and discount allowed by Z is Rs 80)

Case (d)

 Journal Date Particulars L.F. Debit Amount Rs Credit Amount Rs Bills Receivable A/c Dr. 4,000 To Y 4,000 (Y’s acceptance was received) Bills Sent for Collection A/c Dr. 4,000 To Bills Receivable A/c 4,000 (Y’s acceptance sent to bank for collection) Bank A/c Dr. 4,000 To Bills Sent for Collection A/c 4,000 (Y’s acceptance net on maturity)

#### Question 13:

Ram draws a bill for â‚¹ 2,000 on Shyam on 15th September, 2018 for 3 months. On maturity, Shyam failed to honour th bill.
Pass the necessary Journal entries in the books of Ram and Shyam.

 Books of Ram Journal Date Particulars L.F. Debit Amount (â‚¹) Credit Amount (â‚¹) 2018 Sep.15 Bills Receivable A/c Dr. 2,000 To Shyam 2,000 (Shyam’s acceptance received) Dec.18 Shyam A/c Dr. 2,000 To Bills Receivable A/c 2,000 (Shyam’s acceptance dishonoured)

 Books of Shyam Journal Date Particulars L.F. Debit Amount (â‚¹) Credit Amount (â‚¹) 2018 Sep.15 Ram Dr. 2,000 To Bills Payable A/c 2,000 (Bill drawn by Ram was accepted) Dec.18 Bills Payable A/c Dr. 2,000 To Ram 2,000 (Bills Payable dishonoured)

#### Question 14:

On 20th March, 2019, Naresh sold goods to Kailash to the value of â‚¹ 1,250, taking a bill at 3 months for the amount. On maturity, the bill was dishonoured. Naresh paid â‚¹ 10 as noting charges. On 1st July, Kailash cleared his account by paying â‚¹ 1,260.
Make the entries in the books of both the parties to record the above transactions.

 Books of Naresh Journal Date Particulars L.F. Debit Amount (â‚¹) Credit Amount (â‚¹) 2019 Mar.20 Kailash Dr. 1,250 To Sales A/c 1,250 (Goods sold to Kailash) Mar.20 Bills Receivable A/c Dr. 1,250 To Kailash 1,250 (Kailash’s acceptance was received) Jun.23 Kailash Dr. 1,260 To Bills Receivable A/c 1,250 To Cash A/c 10 (Bill received from Kailash dishonoured and Rs 10 paid for Noting the bill) July 01 Cash A/c Dr. 1,260 To Kailash 1,260 (Received cash from Kailash)

 Books of Kailash Journal Date Particulars L.F. Debit Amount (â‚¹) Credit Amount (â‚¹) 2019 Mar.20 Purchases A/c Dr. 1,250 To Naresh 1,250 (Goods were bought from Naresh ) Mar.20 Naresh Dr. 1,250 To Bills Payable A/c 1,250 (Bill drawn by Naresh was accepted) Jun.23 Bills Payable A/c Dr. 1,250 Noting Charges A/c Dr. 10 To Naresh 1,260 (Bill Payable was dishonoured) July 01 Naresh Dr. 1,260 To Cash A/c 1,260 (Paid cash to Naresh)

#### Question 15:

On 1st January, 2019, X sold goods to Y for â‚¹ 25,000 and immediately received from Y â‚¹ 10,000 by cheque and drew a bill on Y at three months for the balance amount. Bill is accepted by Y. Bill was dishonoured on the due date and Y paid â‚¹ 150 as noting charges. Ten days later, Y pays the due amount to X. Pass the Journal entries in the books of both the parties.

 In the books  of X Journal Date Particulars L.F. Debit Amount (â‚¹) Credit Amount (â‚¹) 2019 Jan. 01 Y’s A/c Dr. 25,000 To Sales A/c 25,000 (Being goods sold to Y on credit) Jan. 01 Bills Receivable A/c Dr. 15,000 Bank A/c Dr. 10,000 To Y’s A/c 25,000 (Being bill drawn on Y for three months and part payment received) April 04 Y’s A/c Dr. 15,000 To Bills Receivable A/c 15,000 (Being bill dishonoured by Y) April 14 Bank A/c Dr. 15,000 To Y’s A/c 15,000 (Being amount due paid by Y after 10 days)

 In the books  of Y Journal Date Particulars L.F. Debit Amount (â‚¹) Credit Amount (â‚¹) 2019 Jan. 01 Purchases A/c Dr. 25,000 To X’s A/c 25,000 (Being goods purchased from X on credit) Jan. 01 X’s A/c Dr. 25,000 To Bank A/c 10,000 To Bills Payable A/c 15,000 (Being acceptance given to X and part payment given) April 04 Bills Payable A/c Dr. 15,000 Noting Charges A/c Dr. 150 To X’s A/c 15,000 To Cash A/c 150 (Being bill dishonoured and noting charges paid) April 14 X’s A/c Dr. 15,000 To Bank A/c 15,000 (Being due amount paid to X)

#### Question 16:

On 1st July, 2019, A drew a bill for â‚¹ 5,000 on B payable after 3 months. A discounted it with the Bank for â‚¹ 4,850. On maturity, B failed to pay the amount of his acceptance and the bank had to pay â‚¹ 50 as noting charges.
Pass the necessary Journal entries in the books of A and B.

 Books of A Journal Date Particulars L.F. Debit Amount (â‚¹) Credit Amount (â‚¹) 2019 Jul.01 Bills Receivable A/c Dr. 5,000 To B 5,000 (B’s acceptance was received) Jul.01 Bank A/c Dr. 4,850 Discount Charges A/c Dr. 150 To Bills Receivable A/c 5,000 (B’s acceptance discounted with bank) Oct.04 B Dr. 5,050 To Bank A/c 5,050 (B’s acceptance became dishonoured, bank paid Noting Charges Rs 50)

 Books of B Journal Date Particulars L.F. Debit Amount (â‚¹) Credit Amount (â‚¹) 2019 Jul.01 A Dr. 5,000 To Bills Payable A/c 5,000 (Bill drawn by A was accepted) Oct.04 Bills Payable A/c Dr. 5,000 Noting Charges A/c Dr. 50 To A 5,050 (Bills Payable dishonoured)

#### Question 17:

On 15th June, 2019, Mohan sold goods to Sohan valued at â‚¹ 2,000. He drew a bill at 3 months for the amount and discounted the same with his bank for â‚¹ 1,960. On the due date the bill was dishonoured and Mohan paid to the bank the amount due plus the noting charges of â‚¹ 10.
Draft the Journal entries in the books of all parties.

 Books of Mohan Journal Date Particulars L.F. Debit Amount (â‚¹) Credit Amount (â‚¹) 2019 June 15 Sohan Dr. 2,000 To Sales A/c 2,000 (Goods sold to Sohan) June 15 Bills Receivable A/c Dr. 2,000 To Sohan 2,000 (Sohan’s acceptance was received) June 15 Bank A/c Dr. 1,960 Discount Charges A/c Dr. 40 To Bills Receivable A/c 2,000 (Sohan’s acceptance discounted with bank) Sep.18 Sohan Dr. 2,010 To Bank A/c 2,010 (Sohan’s acceptance became dishonoured and Bank paid Rs 10 Noting Charges) Sep.18 Bank A/c Dr. 2,010 To Cash A/c 2,010 (Liabilities on account bill dishonoured was discharged)

 Books of Sohan Journal Date Particulars L.F. Debit Amount (â‚¹) Credit Amount (â‚¹) 2019 June 15 Purchases A/c Dr. 2,000 To Mohan 2,000 (Goods were bought from Sohan) June 15 Mohan Dr. 2,000 To Bills Payable A/c 2,000 (Bills drawn by Mohan was accepted) Sep.18 Bills Payable A/c Dr. 2,000 Noting Charges A/c Dr. 10 To Mohan 2,010 (Bills Payable became dishonoured)

#### Question 18:

On 1st March, 2019, R accepted a Bill of Exchange of â‚¹ 20,000 from S payable 3 months after date in full settlement of his dues. On the same day S endorsed the Bill of Exchange to T together with a cheque for â‚¹ 5,000 in settlement of his debt to the latter. On 2nd March, 2019, T discounted the Bill of Exchange @ 6% p.a. with his bank. On maturity the Bill of Exchange was dishonoured.
Journalise the transactions in the books of R and T.

 Books of R Journal Date Particulars L.F. Debit Amount (â‚¹) Credit Amount (â‚¹) 2019 Mar.01 S Dr. 20,000 To Bills Payable A/c 20,000 (Bill drawn by S was accepted) June 04 Bills Payable A/c Dr. 20,000 To S 20,000 (Bills Payable dishonoured)

 Books of T Journal Date Particulars L.F. Debit Amount (â‚¹) Credit Amount (â‚¹) 2019 Mar.01 Bank A/c Dr. 5,000 Bills Receivable A/c Dr. 20,000 To S 25,000 (Bill Receivable and cheque received from S) Mar.02 Bank A/c Dr. 19,700 Discount Charges A/c Dr. 300 To Bills Receivable A/c 20,000 (R’s acceptance discounted with bank at 6% p.a. for 3 months) June 04 S Dr. 20,000 To Bank A/c 20,000 (Bill received from S was dishonoured)

#### Question 19:

On 1st January, 2019, A drew a bill on B for â‚¹ 10,000 payable after 3 months. B accepted the bill and returned it to A. After 10 days, A endorsed the bill to his creditor C. On the due date, the bill was dishonoured and C paid â‚¹ 50 as noting charges.
Record the transactions in the books of A, B and C.

 Books of A Journal Date Particulars L.F. Debit Amount (â‚¹) Credit Amount (â‚¹) 2019 Jan. 01 Bills Receivable A/c Dr. 10,000 To B 10,000 (B’s acceptance was received) Jan. 11 C Dr. 10,000 To Bills Receivable A/c 10,000 (B’s acceptance endorsed in favour of C) April 04 B Dr. 10,050 To C 10,050 (Bill endorsed in favour of C was dishonoured and C paid Rs 50 Noting Charges)

 Books of B Journal Date Particulars L.F. Debit Amount (â‚¹) Credit Amount (â‚¹) 2019 Jan. 01 A Dr. 10,000 To Bills Payable A/c 10,000 (Bill drawn by A was accepted ) April 04 Bills Payable A/c Dr. 10,000 Noting Charges A/c Dr. 50 To A 10,050 (Bill Payable dishonoured)

 Books of C Journal Date Particulars L.F. Debit Amount (â‚¹) Credit Amount (â‚¹) 2019 Jan.11 Bills Receivable A/c Dr. 10,000 To A 10,000 (Bill Receivable received from A) April 04 A Dr. 10,050 To Bills Receivable A/c 10,000 To Cash A/c 50 (Bill Receivable received from A became dishonoured and Noting Charge paid Rs 50)

#### Question 20:

Y owes X â‚¹ 4,000. On 1st January, 2019, Y accepts a 3 months bill for â‚¹ 3,900 in satisfaction of his full claim. On the same date, it was endorsed by X to Z in satisfaction of his claim of â‚¹ 3,980. The bill is dishonoured on the due date. Give the Journal entries in the books of X.