Journalise the following transactions in our books:(a) Our acceptance to Karan for ₹ 4,500 renewed for 3 months on the condition that ₹ 2,500 is paid in cash immediately and a new bill to be drawn including interest 12% p.a.(b) A bill payable accepted in favour of Hari for ₹ 4,000 returned unpaid due to lack of instructions to the bank. Hari claims ₹ 4,050. (₹ 50 as noting charges), which is paid by cheque.

Journalise the following transactions in our books:(a) Our acceptan

1.	Journalise the following transactions in our books:(a) Our acceptance to Karan for ₹ 4,500 renewed for 3 months on the condition that ₹ 2,500 is paid in cash immediately and a new bill to be drawn including interest 12% p.a.(b) A bill payable accepted in favour of Hari for ₹ 4,000 returned unpaid due to lack of instructions to the bank. Hari claims ₹ 4,050. (₹ 50 as noting charges), which is paid by cheque.
Answer» Journalise the following transactions in our books: (a) Our acceptance to Karan for ₹ 4,500 renewed for 3 months on the condition that ₹ 2,500 is paid in cash immediately and a new bill to be drawn including interest 12% p.a. (b) A bill payable accepted in favour of Hari for ₹ 4,000 returned unpaid due to lack of instructions to the bank. Hari claims ₹ 4,050. (₹ 50 as noting charges), which is paid by cheque.