On 1st April, 2016, B accepts a bill drawn by A at three months for ₹ 8,000 in payment of debt. On the due date the acceptance is dishonoured and A gets the bill noted paying ₹ 100. On 4th July, 2016 A draws a new bill payable after 73 days provided interest is paid in cash 15% p.a. To this B is agreeable. The bill is met on maturity.Record these transactions in the Journal of both the parties.

On 1st April, 2016, B accepts a bill drawn by A at three months for �

1.	On 1st April, 2016, B accepts a bill drawn by A at three months for ₹ 8,000 in payment of debt. On the due date the acceptance is dishonoured and A gets the bill noted paying ₹ 100. On 4th July, 2016 A draws a new bill payable after 73 days provided interest is paid in cash 15% p.a. To this B is agreeable. The bill is met on maturity.Record these transactions in the Journal of both the parties.
Answer» On 1st April, 2016, B accepts a bill drawn by A at three months for ₹ 8,000 in payment of debt. On the due date the acceptance is dishonoured and A gets the bill noted paying ₹ 100. On 4th July, 2016 A draws a new bill payable after 73 days provided interest is paid in cash 15% p.a. To this B is agreeable. The bill is met on maturity. Record these transactions in the Journal of both the parties.