1. On 1st April, 2010, Nazir sells goods to Wajid for Rs. 10000 on credit.

On the same day

Nazir draws a three months bill on Wajid, who accepts it and returns the same to Nazir.
On the due date the bill is honored by Wajid.
Required: Give journal entries in the books of Nazir and Wajid.
2. A, Purchased goods on credit from B for Rs. 25000 on 1 st January 2010. B drew a bill of
exchange on A on the same day for the same amount. The bill was duly accepted by A
and returned to B. On due date B presented the bill to A who returned the bill dishonored.
Required: Pass journal entries in the books of both the parties.
3. On 1st June 2010, Jafar sold goods to Hassan for Rs. 45000 and drew a three months bill
on the later. Hassan accepted the bill and returned to Jafar. On June 2 Jafar got the bill
discounted for Rs. 43650. The bill is duly met on due date.
4. On 1st September, 2009 Sajid sold goods to Maqsood worth of Rs. 50000 on credit basis.
Sajid drew a three months bill on Maqsood on the same date for the amount. Sajid
endorsed the bill to Munir to settle his debt. On the due date the bill was met by
Maqsood.
Required: Give journal entries in the books of all the parties.
5. Aslam sold goods worth Rs. 5000 to Akbar on 1 st January, 2007 on credit for which a bill
for three months was drawn by Aslam on Akbar. The bill was duly accepted by Akbar on
the same date. Aslam send the bill on 4 th January, 2007 to his bank for collection and
bank charges Rs. 50 for collecting the bill. The bill was met by Akbar on the due date.
Required: Pass journal entries in the books of Aslam and Akbar and Bank.