Plzz solve this fast ADDITIONAL QUESTIONS
Q. 37. On 1st January, 2010, Arun purchased from Barun goods invoiced
e 10,000. On the same date, Barun drew upon Arun a bill for the amount at 2 months
and Arun accepted the same. On 4th January, 2010, Barun got the bill discounted wit
his bank @12% per annum. On due date, Arun told Barun that he was not in a position
to die full amount and requested Barun to accept e 5,000 in cash and draw a fresh
bill at 2 months for the remaining amount plus interest at 15% per annum, Bann
agreed. The second bill was duly met on the due date.
Give journal entries to record the above transactions in the books of Barun.
(C. S Foundation Dec. 2010)
Hint : Amount ofrenewed bill e-5,125.
