Mathematics · Financial Accounting
Mr. A sells goods for Rs. 3,00,000 to Mr. B, and Mr. B accepts a bill of exchange for the same amount. Mr. A endorses the bill to his supplier, Mr. C. If Mr. B dishonors the bill on the due date, the journal entry to be passed in Mr. A's books (ignoring noting charges) would be:
Verified Solution4 OptionsUpdated: October 2026👁️1 View
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- 1Bills Receivable A/c Dr Rs. 3,00,000 to Mr. B's A/c Rs. 3,00,000
- 2Mr. B's A/c Dr Rs. 3,00,000 to Mr. C's A/c Rs. 3,00,000✓
- 3Mr. C's A/c Dr Rs. 3,00,000 to Bills Receivable A/c Rs. 3,00,000
- 4Mr. B's A/c Dr Rs. 3,00,000 to Bills Payable A/c Rs. 3,00,000
Correct answer
Mr. B's A/c Dr Rs. 3,00,000 to Mr. C's A/c Rs. 3,00,000
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