A-GOODS SOLD TO SWEETY LIST PRICE RS. 10,000, TRADE DISCOUNT 10% AND CASH DISCOUNT 5%.
SWEETY PAID 50% AMOUNT IN CASH
2
B- MANU WHO OWED US RS.5,000 IS DECLARED INSOLVENT AND 65 PAISE IN A RUPEE IS RECEIVED
FROM HIS OFFICIAL ESTATE.
2
C- RS.1,000 DUE FROM ROHIT ARE NOW BAD DEBTS.
1
D- GOODS WORTH RS. 2,000 WERE USED BY THE PROPRIETOR.
1
E-PAID INCOME TAX RS.5,000
1
F-PAID SALARY TO GOPAL RS. 10,000
1
G- PAID INSURANCE PREMIUM RS.5000
1
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ANSWER=>
Cash A/c Dr. 6,000
Bad Debts A/c Dr. 4,000
To Sohan A/c 10,000
(Being the cash dividend of 60 paise in a rupee out of his debt of Rs. 10,000 received from Sohan on his insolvency).
Answered By Sk
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