Ram’s acceptance for ₹ 30,000 endorsed in favour of Shyam is dishonoured. Shyam pays ₹ 500 as noting charges. Ram pays ₹ 15,000 immediately and agrees to accept a new bill of exchange for 3 months for the balance together with interest @ 12% p.a. Shyam’s Account is settled by cheque.

Journalise the transactions in our books.

Anurag Pathak Changed status to publish October 25, 2023