On 1st Aug. 2018, Mohan draws a bill on Sohan for Rs. 120000. Sohan accepted that Bill for 02 months. Mohan retains the Bill till due date and on due date, sends the bill to the banker for collection. In due course, Mohan receives information from the bank that the bill has been duly met. You are required to pass necessary Journal entries in the Books of Mohan and Sohan.
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