Question

On Feb 02, 2018, Verma purchased from Sharma goods for 17,500. Verma paid 2,500
immediately and for the balance gave a promissory note to Sharma payable after 50 days
Sharma immediately endorsed the promissory note in favour of His creditor Gupta for the
full settlement of a debtok 15,400_On the due date of the hill Gupta presented the bill
Verma which the latter dishonoured and Gupta paid 50 as nothg charges. On the same
date Gupta informed Shasma about the dishonour of the bill. Sharma settled his debt to
Gupta by chegue for 15,50, which includes noting charges and interest Verma settled
Sharma's dain by cheque for the same amount
Record the nedessa journal entries in the books of Sharma, Verma and Gupta​

Answer 1

Answer:

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