Question

On Feb. 14, 2017 Rashmi sold good Rs.7,500 to Alka. Alka paid Rs.500
in cash and for the bank balance accepted a bill of exchange drawn
upon her by Rashmi payable after two months. On Apr.10, 2017 Alka
approached Rashmi to cancel the bill since she was short of funds. She
further requested Rashmi to accept Rs.2,000 in cash and draw a new
bill for the balance including interest Rs.500. Rashmi accepted Alka’s
request and drew a new bill for the amount due payable after 2 months.
The bill was accepted by Alka. The new bill was duly met by Alka on
maturity.
Record the necessary journal entries in the books of Rashmi and Alka
and prepared Alka’s account in the books of Rashmi’s and Rashmi’s
account in the books of Alka’s

Answer 1

Answer:

60000000000000000000000000000000000000000

Answer 2

Explanation:

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