A draws a bill for ~ 1,200 and B accepts the same for mutual accommodation in the ratio of 4:2. A discounts the bill for ~ 1,110 and remits 1/3rd of the proceeds to B. Before the due date, B draws another bill for ~ 1,800 on A in order to provide funds to meet the first bill. The second bill is discounted for ~ 1,740 by B and a sum of ~ 360 is remitted to A after meeting the first bill. The second bill is duly met. Show the Journal entries in the books of both A and B.
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