Question

Journalize the following transaction: Ravi, who owes R.s.10,000 become insolvent and could not pay from his estate​

Answer 1

Question:-

Journalize the following transaction: Ravi, who owes R.s.10,000 become insolvent and could not pay from his estate.

Answer:-

A man Ravi who owes 10,000 Rupers is now insolvent and he also couldn't pay from his own estate. The question is now from where he will pay the 10,000 rupees