On 15th January, 2006 Sachin sold goods...

On 15th January, 2006 Sachin sold goods for ₹ 30,000 to Narain and drew upon later a bill for the same amount payable after 3 months. The bill was accepted by Narain. The bill was discounted by sachin from his bank for ₹29,250 on 31th January, 2006, on maturity the bill was dishonourd . he further agreed to pay ₹ 10,500 in cash including ₹ 500 interset and accept a new bill for two months for the remaining ₹ 20,000. the new bill was endorsed by sachin in favour of his creditor Kapil for debt of ₹ 20, 000. the new bill was duly met by Narain on maturity. give journal entries.

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