On 1-11-2016, Doremon sold goods of Rs. 250000 to Shinchani. On 3-11-16, Doremon drew a four moriwi, bill of Rs. 250000 on Shinchan, which Shinchan accepted and returned on the same day. On 26-2-17 Shinchan gave a Cheque of Rs. 50000 and requested Doremon to cancel the oln bill along with interest Rs. 3000 for 30 days. Doremon agreed to the request of Shinchan and drew a bill for the required amour including interest, which Shinchan accepted. Before maturity Date on 24-3-17, Shinchan was declared insolvent and on 15-4-17, received the final dividend at 40 paise from his receiver. Write journal entries the books of Doremon and Shinchan.
