Question

attended meeting of creditors of p perhar where it was established that only 40 paise in the rupee would be paid to the creditors ...journal entry​

Answer 1

40 paise.

The creditors' meeting is called after a meeting of shareholders – often directly following it, or within a maximum of 14 days. ... Directors face questions from creditors as to why the company has declined into insolvency, and what the outcome might be regarding their debt.