Question

biroo who owed us rs. 15000 declared insolvent and 65 paise in a rupee is received as final dividend from his estate​

Answer 1

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$undestnd$

Answer 2

Answer:

Explanation:

                                    JOUNAL ENTRIES                                                                

Cash A/c                Dr.  9750

Bad debts A/c       Dr.   5250

To Biroo A/c                                       15,000

(Being 65 paise in rupee received from Mr. Biroo out of a debt of Rs.15,000)

working notes

1 rupees =   65 paisa dividend received

on 15000 rupees = 65 /100 * 15000 = 9750

remaining is the Bad debts