Numerical Questions · Q23
Q.
Calculate the amount of bills receivable dishonoured from the following information.
| Particulars | Amount (₹) |
|---|---|
| Opening balance of bills receivable | 1,20,000 |
| Bills collected (honoured) | 1,85,000 |
| Bills receivable endorsed | 22,800 |
| Closing balance of bills receivable | 50,700 |
| Bills receivable received | 1,50,000 |
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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 endorsed and the closing balance are credited. Bills receivable dishonoured is the balancing figure.
Total Bills Receivable Account
| Date | Particulars | J.F. | Amount (₹) | Date | Particulars | J.F. | Amount (₹) |
|---|---|---|---|---|---|---|---|
| To Balance b/d | 1,20,000 | By Cash (bills honoured) | 1,85,000 | ||||
| To Bills Receivable Received | 1,50,000 | By Creditors (B/R endorsed) | 22,800 |
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