On the 1st of March 2021 Adelaide Ltd sold goods worth $40,000 on credit to Perth Ltd (terms 20 days). By the 31st of March 2021, Pert Ltd has still not repaid the amount and on the 1st of April 2021 agrees to convert the amount to a 180-day, 8% bill.

Required:

Record the entries to reflect these events (the acceptance of the bill, the adjusting entry and the payment of the bill at the maturity date)