Question

29. Xowed Y 7 6,000 on 1st January, 2016. On the same date, Y drew upon X a bill for the amount
at two months and X returned the bill duly accepted. Y got the bill discounted at his bank at 5%.
Before the bill was due for payment, X told Y that he was not able to pay the full amount and
requested Y to accept + 2,000 immediately and draw upon him another bill for the remaining
amount for two months together with interest at 6% per annum. Y agreed. The second bill was
duly met
Give journal entries in the books of both X and Y.​

Answer 1

Answer:

Po udayipe.....................