Question

1)Beena who owned rs.1500 is declared insolvent
and 65 paise in a rupee Is received as final divident
from her estate
2) Solds goods to Leela list price rs.2000 trade
discount 10%. and cash discount 5%. She poid the
same doy
3) Rent due to land lord rs.500
amount
on the
4) Goods worth 10,000 were destroyed by
fire​

Answer 1

Explanation:

Being 60 paise in a rupee received from Sohan out of debt of ₹10,000 in full settlement of his account)

Reason : Cash Account is debited because it increases the balance of Cash(Assets) Account, Bad Debts(Loss) Account is debited because it increases the balance of Bad Debts(Losses) Account and Sohan(Debtor) Account is credited because it decreases the balance of Debtors(Assets) Account.

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