Numerical Questions · Q22
Q.
Calculate the amount of bills receivable during the year.
| Particulars | Amount (₹) |
|---|---|
| Opening balance of bills receivable | 75,000 |
| Bill dishonoured | 25,000 |
| Bills collected (honoured) | 1,30,000 |
| Bills receivable endorsed to creditors | 15,000 |
| Closing balance of bills receivable | 65,000 |
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Start your 14-day free trial to unlock the full solution →Prepare the Total Bills Receivable Account. The opening balance and bills received are debited; bills collected (honoured), bills dishonoured, bills endorsed to creditors and the closing balance are credited. Bills receivable received is the balancing figure.
Total Bills Receivable Account
| Date | Particulars | J.F. | Amount (₹) | Date | Particulars | J.F. | Amount (₹) |
|---|---|---|---|---|---|---|---|
| To Balance b/d | 75,000 | By Cash (bills honoured) | 1,30,000 |
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