Alok Limited (AL) purchased goods worth ₹3,00,000 and ₹2,80,000 from Ramesh Limited (RL) on cash and for one month credit, respectively. AL accepted a bill of exchange of two months duration for ₹5,00,000 in the favour of Dilip Limited (DL). Do these transactions result in financial assets and liabilities? AL also received an acceptance from Mukesh Limited (ML) of ₹3,50,000. Show how these are to be recognized.