f journal entries

Need only journal entries

Illustration 3. Sunil owed Anil 80,000. Anil draws a bill on Sunil for that amount for 3 months on Ist April. Sunil accepts it and returns it to Anil. On 15th April, Anil discounts it with Citi Bank at a discount of 12% p.a. On the due date the bill was dishonoured, the bank paid noting charges of 100. Anil settles the bank's claim along with noting charges in cash. Sunil accepted another bill for 3 months for the amount due plus interest of 3,000 on 1st July. Before the new bill became due, Sunil retires the bill with a rebate of 500. Show journal entries in books of Anil