Question

on 1.1.1990 x sells goods to Y fir 10000 and draws a bill for the same amount for 3 months. y accepts the bill and returns it to X.one month before the due date Y reqyests X to cancel the bill.instead,he wants to pay 300 immediately as part payment and to accept a fresh bill for the balance plus interest for a further period of 2 months from the due date of original bill.X agrees to the proposal.the new bill is honoured on the due date.12%p.a is charged as interest.pass journal entries in yhe books of X.​

Answer 1

Answer:

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