Question

Journalise the following transactions
(i) ₹ 5,000 due from Ronak are irrecoverable.
(ii) Manish is declared insolvent. Received from his official Receiver 60 paise in a
rupee on a debt of ₹ 10,000.
(iii) Received cash for a bad debt written off last year ₹ 700.
(iv) Issued cheque as advance for Machinery ₹ 1,00,000

Answer 1

Answer:

3 case account Dr 700 To Bad debt Cr 700