Gavaskar of Bombay sent 100 TV sets to Kapil of Chandigarh on consignment basis. The cost price of each set is ~ 5,000. Gavaskar paid ~ 100 for cartage, ~ 1,500 for railway freight and ~ 400 for insurance premium.

He drew a bill, payable after two months for ~ 50,000, which was accepted by Kapil, by way of security against the consignment. He then discounted the bill for ~ 49,900.

Kapil paid ~ 600 as godown rent and ~ 400 as sundry expenses. He sold 90 sets @ ~ 5,400 per set. But he could not realize the sale proceeds of 5 sets from the customers. He was entitled to receive 4% ordinary commission and 1% del credere commission. The net amount due from Kapil was received in time.

Prepare the Consignment Account, Kapil Account and Advance Against Consignment Account in the books of Gavaskar.