S. Sen and B. Banerjee have a number of transactions on bills of exchange between them. You are required to show the journal entries in their books in respect of the following transactions :
| 1.1.2015 | Sen draws a bill on Banerjee for ~ 15,450 payable after a month, inclusive of interest at 3% p.m. |
| 3.1.2015 | Sen discounts a bill for ~ 25,000 drawn on 30.12.2014 with his Bank, discounting charges being15% p.a. The bill is payable on 3.2.2015. |
| 4.1.2015 | Sen endorses the bill for ~ 15,450 in favour of R. Ram towards account. |
| 1.2.2015 | Banerjee pays the bill for ~ 15,450. |
| 4.2.2015 | The bill for ~, 25,000 is returned by Sen’s bankers as unpaid with their charges of ~ 10. |