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A sells goods for 8000 to B on Jan 1,2017 and on the same date draws a bill for 3 months on the latter for the amount. B accepts it and return it to A, who discounts it with his bankers for 7850. On the due date the bill is dishonoured. Noting charges of 150 were paid by the bank. B then pays 3000 in cash and accepts a new bill at three months for 5350. Before maturity, B become insolvent and a final dividend of 50 paise in the rupee is received. Give journal entries to record these transactions in the books of A and B.
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