Question

Journalise the following transactions in the books of Sajee


i. Ashok who owed Rs. 30000 is declared insolvent and 60 paise in a rupee

is received as final dividend from his estate.


ii. Sold goods to Latha at a list price of Rs. 40 000, trade discount 10% and

cash discount 5%, she paid the amount on the same day.


iii. Goods worth Rs. 10,000 destroyed by fire and the insurance company

admitted a claim of Rs.8,000.


iv. Paid Rs.7,300 to Vinod in full settlement of his account of Rs.7,500.
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Answer 1

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