Sri G sold his diamond ring to Sri K for ~ 20,000 and received in payment thereof, a three months bill of exchange from him of the bill amount. Thereafter, Sri G, discounted the said bill with his bankers receiving ~ 19,800. Sri K, was not able to meet the bill on the due date. Sri K, however, agreed to accept a new two months bill for the amount due by him together with interest @ 9% p.a. and discount charges.
Show the Journal Entries and Ledger Accounts in the books of Sri G and Sri K.