Q. 23. On Ist August, 2017 Pradeep drew a bill on Raju for 75,000 for 3 months.

18% and me

pill to C. Cende

of maturity, the

rd these translate

This was for the amount which Raju owed to Pradeep. On Aug. 4, 2017 Pradeep discounted the same at 14% p.a. from Bank. On November 1, 2017 Raju requested and for 16 immediately together with interest on the remaining amount @ 18% p.a. for 3 months Pradeep for renewal of the bill. Pradeep agreed on the condition that 35,000 be paid and that for the remaining amount Raju should accept a new bill for 3 months. These arrangements were duly carried out. The new bill was dishonoured on due date as Raju became insolvent. Pradeep received 40 paise in a from Raju's estate.



Show the entries in the books of both the parties.