3.
Ram sent 1000 cycles to Mohan @ Rs. 1,500 per cycle on
consignment. Ram paid freight Rs. 1,00,000 and insurance
Rs. 15.000. During transit 100 cycles were totally damaged
by fire. Insurance company paid Rs. 1,40,000 for claim of
loss. Mohan took delivery of 900 cycles and paid Rs. 15,300
for octroi. 800 cycles were sold at Rs. 2,200 each. Expenses
of Mohan were Rs. 20,000. Mohan was entitled to a
commission of 5%. Mohan settled the account by bank draft.
Prepare ledger accounts in the books of Ram.
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