Question

Bad Debts and Bad Debts Recovered
5. Pass Journal entries for the following transactions:
2020
April
1 Mohan is declared insolvent. Received first and final dividend from his official Receiver 50 paise
in a rupee against a debt of 5,000
April 28,000 due from Ramesh is not recoverable
April 3 Shyam, who owed 15,000 became insolvent and 50% is received from his estate
April 4 Received 10,000 in cash from Sohan for bad debts written off last year​

Answer 1

Answer:

Pass Journal entries for the following ... 2020. April 1 Mohan is declared insolvent. Received first and final dividend from his official Receiver 50 paise in a rupee against ...