Question

On January 1^st , 2006, Ramesh sold goods worth ₹2,000 to Kannan and drew a bill for the amount for 3 months. Kannan accepted the bill and returned it to Ramesh. Ramesh endorsed the bill in favour of Jayan, on 6 January. The bill was duly met on maturity. Pass journal entries in the book of Ramesh, Kannan and Jayan.

Answer 1

Book of Ramesh [Drawer] Journal

Book of kannan [Drawee] Journal

Book of Jayan [Endorser] Journal

Date	Particulars	LF	Debit	Credit
6.1.2006	Bill Receivable A/c   Dr   To Ramesh A/c [Receipt of bill endorsed by Ramesh]		2,000	2,000
4.4.2006	Cash/Bank A/c    Dr   To Bill Receivable A/c [Amount of the bill received on the due date]		2,000	2,000