Answer 1

In the books of Rohit Journal
Date	Particulars	L.F.	Debit Amount (Rs)	Credit Amount (Rs)
2012 May 14	Devidas                Dr.    To Sales A/c (Goods sold to Devidas on credit)		30,000	30,000
May 14	Bills Receivable A/c                  Dr.     To Devidas (Bill received from Devidas)		30,000	30,000
June 17	Bank A/c                 Dr. Discounting Charges A/c         Dr.     To Bills Receivable A/c (Bills Receivable discounted with a bank)		29,250 750	30000
Sept. 17	Devidas               Dr.      To Bank A/c (Discounted bill receivable dishonoured)		30,000	30,000
Sept. 17	Devidas               Dr.     To Interest A/c (Interest due)		500	500
Sept. 17	Cash A/c               Dr. Bills Receivable A/c (New)       Dr.     To Devidas (Cash and acceptance received)		10,500 20,000	30,500
Nov. 20	Cash A/c               Dr.      To Bills Receivable A/c (New) (Cash received)		20,000	20,000

Working Notes:

WN1 Calculation of Amount of Discount

(1) Amount of discount = 30,000 × 10/100 × 3/12 =  Rs 750

(2) Amount of new bill = Amount of dishonoured bill + Interest on balance Amount - Part Payment.

Amount of new bill = 30000 + 500 - 10500 = Rs 20,000