Amar purchased goods worth 1,000 from Bimal on 1st January, 2017 and accepted a bill
for 1 month drawn by Bimal for the same. Being unable to meet the bill on the due date,
Amar requested Bimal to accept cash 250 and draw a new bill for 2 months for the
balance amount plus interest of 10. Bimal accepted this proposal and drew on Amar
another bill. The bill was duly met on the due date.
Pass the Journal entries in the books of both the parties.