**Journal Entry for Accepting a Bill at 2 Months for 15,000 Drawn by Dilip**

When a bill is accepted by a company, it means that the company has agreed to pay the specified amount mentioned in the bill at a future date. In this case, we have an accepted bill drawn by Dilip for the amount of 15,000, with a maturity period of 2 months. Let's break down the journal entry for this transaction:

**1. Determine the parties involved:**

- Drawee: The party who accepts the bill (the company)
- Drawer: The party who creates and presents the bill (Dilip)

**2. Identify the accounts affected:**

- Bills Payable: An account used to record the company's liabilities for accepting bills of exchange.
- Dilip's Account: The account of the drawer who created the bill.

**3. Analyze the transaction:**

In this case, the company has accepted the bill drawn by Dilip, which means they have agreed to pay the specified amount at a later date. This acceptance creates a liability for the company.

**4. Record the journal entry:**

The journal entry for accepting the bill at 2 months for 15,000 drawn by Dilip would be as follows:

**Date: [Date of Acceptance]**

**Account** **Debit** **Credit**

Bills Payable 15,000
Dilip's Account 15,000

**Explanation:**

- The debit to Bills Payable account represents the increase in the company's liability. As they have accepted the bill, they owe Dilip the amount mentioned in the bill.
- The credit to Dilip's Account represents the decrease in Dilip's account balance. This amount will be receivable from the company after the maturity period.

**5. Subsequent accounting treatment:**

After the acceptance, the company will hold the bill until maturity. On the maturity date, the company will make the payment to Dilip, and the following journal entry will be recorded:

**Date: [Maturity Date]**

**Account** **Debit** **Credit**

Dilip's Account 15,000
Bank/Cash Account 15,000

- The debit to Dilip's Account represents the decrease in Dilip's account balance as the amount is now paid by the company.
- The credit to Bank/Cash Account represents the decrease in the company's asset balance as they make the payment to Dilip.

Note: It is important to consult with an accounting professional or refer to the specific accounting standards applicable in your jurisdiction for accurate and detailed recording of financial transactions.

Bill a/c. Dr to cash a/cIf dilip is the owner,Drawings a/c. Dr To cash a/c