On 1st october, 2018, X sells goods to Y for ₹ 25,000 plus IGST @ 18 % and draws tow bills of exchange on him: the first for ₹ 15,000 fo 2months and second for the balance for 3 months. Y accepts and returns these bills to X. Both the bills are sent to the bank for collection. in due course , X receives the infrormation from the bank that the bill for 15,000 had been duly met and the other bill has been dishonoured. Noting charges paid on the dishonour of the second bill are ₹ 500.
pass Journal entries in the books of X.