Question

9. Journalise the transactions given below.
(i) A sum of 5.000 is received from Akbar against a debt previously writen off.
(ii) Goods worth 2,000 lost by theft insurance company admits claim in full,
(iii) Amount of 600 due from Salim writen off as a bad debt.
(iv) A cheque for 1,500 received from a customer is dishonoured.
(v) Arvind who owes * 2,500 pays * 2.250 in full settlement.
10. Give journal entires for the following​

Answer 1

Answer:

i. cash Dr. 5,000

To Bad debts recovered 5,000

ii. Goods lost by theft Dr. 2,000

To Purchase a/c 2,000

cash Dr. 2,000

To Goods lost by theft 2,000

iii. Bad debts - Dr 600

To Salim 600

iv. Customer Dr 1500

To Bank 1500

v. Bank Dr 2250

Discount allowed Dr250

To Arvind 2500