Q.From the following details relating to Bills Payable, find the amount of bills accepted during the year ended 31.3.2023: Opening Bills Payable (1.4.2022) ₹12,000; Bills Payable discharged (paid) during the year ₹35,000; Bills Payable dishonoured during the year ₹4,000; Closing Bills Payable (31.3.2023) ₹10,000.

The opening balance of debtors is ₹ 40,000, found by balancing the Total Debtors Account.

In a Total Debtors Account (Accounts from Incomplete Records, TN HSC Commerce), the debit side carries the opening balance and credit sales, and the credit side carries cash received from debtors and the closing balance:

Credit sales are computed as the balancing figure of the Total Debtors Account — option (b).

When books are kept on a single-entry (incomplete-records) basis, the credit sales figure is not directly available, so it is recovered from a control account. The Total Debtors Account summarises every transaction affecting customers who owe the business:

• Debit side: opening debtors, and credit sales (the figure to be found).
• Credit side: cash/cheque received from debtors, discount allowed, sales returns, bad debts, bills receivable accepted, and closing debtors. …