Accomodation bills sum doubt

Accountancy

Nov 20 paper question Here in 5 th entry only 2825 is received instead )13125-300) because he had to pay 10000 so that one anup took and sent him remaining balance.... But again in last entry why is it showing still 10000 should be given already anup took it and sent remaining balance na Basically i didn't understand properly last three entries

Harshitha Kalidindi

CA Final

★ 51K+

01-Mar-22 09:57

597

Answers (1)

Suresh had to pay a bills payable. When he did not pay, that liability of Rs.10,000 willl become active as we are cancelling the bills payable entry. Create Anup's Account, you will understad better.

Sahibdeep Singh

CA Inter

★ 14K+

03-Mar-22 08:08