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Q.13. On Ist" Dec 2016 Amar Sold goods to sudesh for Rs.10,000 and write a bill for Rs. 10,000 for the period of 2 month, sudesh returned it to Amar after his acceptance on 2 nd Dec. pass journal entries in the books of Amar and sudesh.?
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Q.13. On Ist" Dec 2016 Amar Sold goods to sudesh for Rs.10,000 and wri...
Journal Entries in the books of Amar:
- 1st Dec:
- Sudesh's Account Dr. 10,000
To Sales Account 10,000 (Being goods sold to Sudesh on credit)
- 2nd Dec:
- Bills Receivable Account Dr. 10,000
To Sudesh's Account 10,000 (Being acceptance of the bill received from Sudesh)
Journal Entries in the books of Sudesh:
- 2nd Dec:
- Amar's Account Dr. 10,000
To Bills Payable Account 10,000 (Being return of goods to Amar after acceptance of the bill)
Explanation:
- On 1st Dec, Amar sold goods to Sudesh on credit for Rs. 10,000 and issued a bill for a 2-month period. The journal entry recorded in Amar's books debits Sudesh's account and credits the Sales account for the amount of Rs. 10,000.
- On 2nd Dec, Sudesh accepted the bill and returned the goods to Amar. The journal entry in Amar's books debits the Bills Receivable account and credits Sudesh's account for Rs. 10,000.
- In Sudesh's books, on 2nd Dec, the journal entry debits Amar's account and credits the Bills Payable account for Rs. 10,000 to record the return of goods after accepting the bill.
These journal entries ensure proper accounting treatment of the transaction between Amar and Sudesh for the sale and return of goods on credit.
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Q.13. On Ist" Dec 2016 Amar Sold goods to sudesh for Rs.10,000 and wri...
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Q.13. On Ist" Dec 2016 Amar Sold goods to sudesh for Rs.10,000 and write a bill for Rs. 10,000 for the period of 2 month, sudesh returned it to Amar after his acceptance on 2 nd Dec. pass journal entries in the books of Amar and sudesh.?
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Q.13. On Ist" Dec 2016 Amar Sold goods to sudesh for Rs.10,000 and write a bill for Rs. 10,000 for the period of 2 month, sudesh returned it to Amar after his acceptance on 2 nd Dec. pass journal entries in the books of Amar and sudesh.? for Class 11 2024 is part of Class 11 preparation. The Question and answers have been prepared according to the Class 11 exam syllabus. Information about Q.13. On Ist" Dec 2016 Amar Sold goods to sudesh for Rs.10,000 and write a bill for Rs. 10,000 for the period of 2 month, sudesh returned it to Amar after his acceptance on 2 nd Dec. pass journal entries in the books of Amar and sudesh.? covers all topics & solutions for Class 11 2024 Exam. Find important definitions, questions, meanings, examples, exercises and tests below for Q.13. On Ist" Dec 2016 Amar Sold goods to sudesh for Rs.10,000 and write a bill for Rs. 10,000 for the period of 2 month, sudesh returned it to Amar after his acceptance on 2 nd Dec. pass journal entries in the books of Amar and sudesh.?.
Q.13. On Ist" Dec 2016 Amar Sold goods to sudesh for Rs.10,000 and write a bill for Rs. 10,000 for the period of 2 month, sudesh returned it to Amar after his acceptance on 2 nd Dec. pass journal entries in the books of Amar and sudesh.? for Class 11 2024 is part of Class 11 preparation. The Question and answers have been prepared according to the Class 11 exam syllabus. Information about Q.13. On Ist" Dec 2016 Amar Sold goods to sudesh for Rs.10,000 and write a bill for Rs. 10,000 for the period of 2 month, sudesh returned it to Amar after his acceptance on 2 nd Dec. pass journal entries in the books of Amar and sudesh.? covers all topics & solutions for Class 11 2024 Exam. Find important definitions, questions, meanings, examples, exercises and tests below for Q.13. On Ist" Dec 2016 Amar Sold goods to sudesh for Rs.10,000 and write a bill for Rs. 10,000 for the period of 2 month, sudesh returned it to Amar after his acceptance on 2 nd Dec. pass journal entries in the books of Amar and sudesh.?.
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