Question

Deep shikha who owned 45000is declared insolvent. First instalment of 40%recovered from her

Answer 1

Answer:

cash a/c. dr. 18000

to deep sikha a/c. 18000

(being received the first installment from debtor,40%of45000)

Answer 2

Answer:

cash a/c Dr. 18000

bad debts A/c Dr. 27000

to Deep shikha 45000