Journalise the following transactions and post them in their respective ledger accounts.
|May 2||Paid interest to Loan||4,000|
|May 3||Ramesh who owed Rs.3,000 has become insolvent. He pays 50 paise in rupee in full settlement.|
|May 4||A cheque received from Ranjan deposited into bank was returned dishonored.||6,300|
|May 5||Wood used for making office furniture.||5,000|
|May 21||Due from Rama are bad debts.||600|
|May 25||Purchased building and issued cheque.||4,300|