Attempt any ONE of the two Sub-parts i.e. either (i) or (ii) (i) For mutual accommodation of himself and Gagan, Aman drew upon Gagan a bill of 7,500…

In the books of Aman Journal Entries Date ₹ DR. (in ₹) CR. (in ₹) 1-4-24 Bills receivables A/c Dr. 7,500 To Gagan 7,500 (Bill of exchange drawn on Mr. Gagan) 1-4-24 Bank A/c Dr. 7,350 Discount A/c Dr. 150 To Bills receivable A/c 7,500 (Bills receivable discounted with the bank at a charge of 8% per annum - 7,500 x 8% x 3/12 = 150) 1-4-24 Gagan A/ c Dr. 2,500 To Bank A/c 2,450 To Discount A/c 50 (₹ 1/3 rd share of bill paid to Gagan) 4-7-24 Gagan A/c Dr. 5,000 To Bank A/c 5,000 (Aman remitted his share to Gagan on due date) In the books of Gagan Journal Entries Date ₹ DR. (in ₹) CR. (in ₹) 1-4-24 Aman Dr. 7,500 To Bills payable A/c 7,500 (Bill of exchange accepted and sent to Mr. Aman) 1-4-24 Bank A/c Dr. 2,450 Discount A/c 50 To Aman 2,500 (The amount and discount due and received from Aman) 1-7-24 Bank A/c Dr. 5,000 To Aman 5,000 (Gagan received the amount remitted from Aman) 4-7-24 Bills Payable Dr. 7,500 To Bank 7,500 (Being Bill of exchange honoured by payment) Or Sales Book of Digital Stores Date ₹ Details ₹ Amount ₹ 2024 M/s. Alpha Industries 10 Laptops @77,000 7,70,000 5 Laser jet Printers @21,000 1,05,000 8,75,000 Less: Trade discount15% (₹ 1,31,250) Sales as per invoice no. dated ..... 7,43,750 M/s. Brown & Co.20 desktop @34,000 Sale as per invoice no. dated ...... 6,80,000 M/s JAT Enterprises 15 mobile phone @25,000 3,75,000 10 hard desk @4,500 45,000 4,20,000 Less:10% trade discount (42, 000) Sales as per invoice no. dated...... 3,78,000 Total 18,01,750 Note: Cash sale and sale of furniture are not entered in Sales Book.