Dishonour of the Bill discounted from the BankQ. 16. A sells goods for

1.	Dishonour of the Bill discounted from the BankQ. 16. A sells goods for 30,000 to B on 1st January, 2017 and on the same daydraws a bill on B at three months for the amount. B accepts it and returns it to A, whodiscounts it on 4th February, 2017 with his bank at 18% per annum. The acceptance isdishonoured on the due date, the noting charges paid by the bank being 200.On 4th April, 2017, B accepts a new bill at two months for the amount then due toA together with interest at 12 per cent per annum.Make Journal entries to record these transactions in the books of A and B
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Dishonour of the Bill discounted from the BankQ. 16. A sells goods for 30,000 to B on 1st January, 2017 and on the same daydraws a bill on B at three months for the amount. B accepts it and returns it to A, whodiscounts it on 4th February, 2017 with his bank at 18% per annum. The acceptance isdishonoured on the due date, the noting charges paid by the bank being 200.On 4th April, 2017, B accepts a new bill at two months for the amount then due toA together with interest at 12 per cent per annum.Make Journal entries to record these transactions in the books of A and B

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