38. Ajay purchased goods from Vijay for 2,000 on 1st January, 2013. He accepted a bill of exchange for the amount at 2 months drawn on him by Vijay on the same day. On 4th Jan, 2013, Vijay got the bill discounted with his bank at 18% p.a. At maturity the bill was dishonoured, noting charges amounting to Rs. 15. However, Vijay agreed to receive a sum of 575 from Ajay in cash and two bills of exchanges-one at one months for 500 and the other at 3 months for 1,000 in full settlement. The first bill of exchange was duly honoured but the second bill of exchange was dishonoured. Give journal entries in the books of Vijay.
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