Q.Journalise the following transactions in the books of Mr. Arvind.
Bank informed that Sam’s acceptance for ₹ 30,000 sent to bank for collection has been honoured and bank charges debited ₹ 200.
Arun informed Arvind that Neena’s acceptance for ₹ 25,000 endorsed to Arun has been dishonoured. Noting charges paid by Arun amounted to ₹ 400.
Bank informed that Jay’s acceptance of ₹ 35,000 which was discounted with bank was dishonoured, bank paid noting charges ₹ 500.
Arvind sold goods to Sagar for ₹ 20,000 on credit and drew a bill for two months on Sagar for the same amount.
Neeta retired her acceptance to Arvind of ₹ 16,500 by paying cash ₹ 16,000.

Dishonour occurs when the drawee fails to pay on the due date; the debt reverts to an ordinary personal account, increased by any noting charges (the Notary's fee for certifying the dishonour, recoverable from the defaulting drawee). Drawer: Drawee's A/c Dr (bill amount + noting charges), To Bills Receivable A/c (if retained) or To Bank A/c (if discounted/collected — the bank recovers its payment plus noting charges from the drawer). Drawee: Bills Payable A/c Dr + Noting Charges A/c Dr, To Drawer's A/c. Renewal: before the due date, the drawee requests cancellation of the old bill and a fresh bill (usually plus interest) for a later date — three-step entries (cancel old bill, charge/record interest, record new bill) mirrored in both parties' …