Page 132 - DEBK-XI(2020)

Accounting for Bills of Exchange 16.13

B’S JOURNAL (DRAWEE)
Date Particulars L.F. Dr. (`) Cr. (`)
2018
Jan. 1 ... ...Dr. ...
To ... ...
(Being the acceptance of the bill given)
April 4 ... ...Dr. ...
... ...Dr. ...
To ... ...
(Being the bill dishonoured and noting charges payable ` 100)
C’S JOURNAL (ENDORSEE)
Date Particulars L.F. Dr. (`) Cr. (`)
2018
Jan. 11 ... ...Dr. ...
To ... ...
(Being the bill received from A)
April 4 ... ...Dr. ...
To ... ...
To ... ...
(Being the bill dishonoured and paid noting charges)
Solution: A’S JOURNAL (DRAWER)
Date Particulars L.F. Dr. (`) Cr. (`)
2018
Jan. 1 Bills Receivable A/c ...Dr. 5,000
To B 5,000
(Being the acceptance of B received for ` 5,000)
Jan. 11 C ...Dr. 5,000
To Bills Receivable A/c 5,000
(Being the bill endorsed to C)
April 4 B ...Dr. 5,100
To C 5,100
(Being the bill dishonoured and noting charges paid by C ` 100)

B’S JOURNAL (DRAWEE)
Date Particulars L.F. Dr. (`) Cr. (`)

2018
Jan. 1 A ...Dr. 5,000
To Bills Payable A/c 5,000
(Being the acceptance of the bill given)
April 4 Bills Payable A/c ...Dr. 5,000
Noting Charges A/c ...Dr. 100
To A 5,100
(Being the bill dishonoured and noting charges payable ` 100)