How will you record the following transactions in the books Kapadia?
(a) A bill received from Dalpat for Rs. 1,000 has to be renewed, Dalpat agrees to pay Rs. 20 as interest.
(b) Swamy’s bill for Rs. 800 endorsed in favour of Ghosh dishonoured, Ghosh pays Rs. 10 as noting charges. Swamy pays Rs. 300 immediately and agrees to accept a new bill for 3 months for the balance together with interest at 6% p.a. Ghosh’s Account is settled by cheque.
