LIVE Course for free

Rated by 1 million+ students
Get app now
0 votes
196 views
in Accounts by (15 points)

Mehak sold goods for rs 24000 to shally on 31st July 2017 And drew three bills for 6000,8000 and 10,000 payable after two,three and four months respectively the first bill was kept by Mehak with her till maturity date.she endorsed the second bill in favour of a creditor Kanak .The third bill was discounted on 3rd September 2017 @ 12% per annum from Bank. The first and second were duly met on maturity but the third bill was honoured and the bank paid rs 150 as noting charges,on 3rd December 2017 shally paid 5000 and noting charges in cash and accepted a new bill at 2 months after date for the balance amount plus interest rs200. the new bill was met on maturity by shally. You are required to give the journal entries in the books of mehak

Please log in or register to answer this question.

Related questions

Welcome to Sarthaks eConnect: A unique platform where students can interact with teachers/experts/students to get solutions to their queries. Students (upto class 10+2) preparing for All Government Exams, CBSE Board Exam, ICSE Board Exam, State Board Exam, JEE (Mains+Advance) and NEET can ask questions from any subject and get quick answers by subject teachers/ experts/mentors/students.

Categories

...