On 1.1.2015, Ram sold goods to Rahim valuing ~ 30,000. On 4.1.2015, Ram received from Rahim ~ 10,000 and drew a bill payable 3 months after date for the balance. On the same date, Ram endorses the accepted bill to Shyam for full settlement of a debt of ~ 21,000. On the due date, the bill was dishonoured and Rahim having become insolvent, met on 10.5.2015, 75% of his acceptance. Give journal entries in the books of Ram and Rahim.
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