On 1st January, 2015, A for his own accommodation, draws a bill on B for ~ 5,000 at 3 months. B accepts the bill and returns it to A on the same date. A discounts the bill with the banker @ 12% p.a. on 4.1.2015. On the due date, A fails to provide B with the necessary amount and consequently, he dishonours the bill. The bank pays noting charges of ~ 30. Pass the necessary Journal Entries in the books of A and B.
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