Give Journal entries to record the following in the books of Mohit and Sumit:
Sumit informs Harsh that Mohit's acceptance for 13,000, endorsed in favour of Sumit by Harsh in full settlement of 13,500 has been dishonoured, noting charges 200. Sumit agrees to accept 3,000 in cash and an acceptance at 3 months together with interest @ 12% p.a. On the maturity of the new bill, it was honoured.
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