Question

16. Journalise the following transactions:
3 ₹
(1) Shyam became insolvent. Compensation of 75 paise in a
rupee was received from his Official Receiver. He owed us
10.000
(ii) Received cash from Ramesh whose account was written off last year as bad debt 5,000
(iii) Rent due to landlord
8,000
(iv) Salaries due to staff
10,000
(u) Placed an order with Rakesh for supply of goods of the list price of 1,00,000. In this
connection, Raman paid 10% of the list price as an advance by cheque.
(vi) Supplied goods costing * 3,600 to Sanjay. Issued invoice at 20% above Cost less
10% Trade Discount.
entries:​

Answer 1

Answer:

1. Cash A/c Dr. 7500

Bad debts A/c Dr. 2500

To Shyam 10,000

2.Cash A/c Dr. 5000

To Bad debts recovered 5000

3. Rent A/c Dr. 8000

To outstanding rent A/c 8000

4. Salaries A/c Dr.

To outstanding salaries A/c