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17.4 Double Entry Book Keeping—ISC XI
...Dr. A/c ...Dr. ...Dr. ...Dr. ...Dr. ...Dr. ...Dr.
Bills Payable A/c Cash/Bank A/c To Rebate To Bills Payable A/c Drawer’s A/c To Drawer’s A/c Cash A/c To Interest A/c Drawer’s A/c To Drawer’s A/c Bills Payable A/c To No Entry Bills Payable A/c Acceptor’s A/c To Drawer’s A/c Cash A/c To Deficiency A/c To Or Profit & Loss A/c
...Dr. ...Dr. ...Dr. ...Dr. ...Dr. ...Dr. ...Dr. ...Dr.
Bills Sent for Collection A/c Acceptor’s A/c Interest A/c Acceptor’s A/c Bills Receivable A/c Bills Sent for Collection A/c Acceptor’s A/c
No Entry Acceptor’s A/c To Cash A/c To Acceptor’s A/c To Bills Receivable A/c To Bills Sent for Collection A/c To Acceptor’s A/c To Cash A/c Bad Debts A/c To
...Dr. ...Dr. ...Dr. ...Dr. ...Dr. ...Dr. ...Dr. ...Dr.
Endorsee’s A/c Acceptor’s A/c Interest A/c Acceptor’s A/c Bills Receivable A/c Endorsee’s A/c Acceptor’s A/c
No Entry Acceptor’s A/c To Cash A/c To Acceptor’s A/c To Bills Receivable A/c To Endorsee’s A/c To Acceptor’s A/c To Cash A/c Bad Debts A/c To
...Dr. ...Dr. ...Dr. ...Dr. ...Dr. ...Dr. ...Dr. ...Dr. In the books of Drawer: Acceptor’s Account is always debited with the total amount, i.e., the amount of the dishonoured bill plus noting charges (if any In the Books of Drawee (Acceptor): Drawer’s Account is always credited with the total amount, i.e., the amount of the dishonouored bill plus noting charges
Acceptor’s A/c Acceptor’s A/c Discounting Charges A/c ...Dr. Bills Receivable A/c Acceptor’s A/c
No Entry Acceptor’s A/c Bank A/c To Cash A/c To Acceptor’s A/c Interest A/c To Bills Receivable A/c To Bank A/c To Acceptor’s A/c Bank A/c To Cash A/c Bad Debts A/c To
...Dr. ...Dr. ...Dr. ...Dr. ...Dr. ...Dr. ...Dr. ...Dr. ...Dr.
Bills Receivable A/c Bills Receivable A/c Acceptor’s A/c Acceptor’s A/c Bills Receivable A/c Acceptor’s A/c
Cash A/c or Bank A/c A/c Rebate To Acceptor’s A/c To Cash A/c To Acceptor’s A/c Interest A/c To Bills Receivable A/c To No Entry Acceptor’s A/c To Cash A/c Bad Debts A/c To
Retirement of a Bill of Exchange under a Rebate before Due Date Renewal of a B/E Cancellation of old B/E Part Payment by the Drawee Interest Charged to Drawee Acceptance of New B/E Treatment of a New Bill Insolvency of the Dishonour of New B/E Receipt of Amount from the Acceptor *Always Remember—When bill is dishonoured: (if any incurred).
7. 8. (a) (b) (c) (d) 9. 10. Drawee (a) (b) • incurred). •
