Question

pass journal entries in respect of the following transactions. 2015
jan 3 xaviers a customer owed rs 20,000 became insolvent and 20% in recieved from his properties as final settlement ​

Answer 1

Answer:

Xavier A/c Dr. 20,000 (Xavier personal a/c

Receiver-Debit)

To cash A/c 20,000 (Cash goes out so

Credit)

Bad debt ( bed debt recovered

recovery A/c Dr. 4000 so debit)

To Xavier A/c 4000 (Xavier is giver-Credit)

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