Shyam sold goods to Ram for ~ 20,000 on 1.1.2015. On the same date Shyam drew upon Ram a bill for the amount of bill at 2 months and Ram accepted the same. On 4th January 2015, Shyam discounted the bill at his bank @ 12% p.a. On the due date Ram told Shyam that he was not in a position to pay the full amount and requested Shyam to accept ~ 10,000 in cash and to draw a fresh bill for the remaining amount for 2 months together with interest at 15% p.a. Shyam agreed. The second bill was duly met. Give entries to record the above transactions in the books of Shyam.
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