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Priyanka sold goods to Mayuri for Rs. 9,000. Priyanka drew a bill of Rs. 9,000 on Mayuri for
3 months. Mayuri accepted it and returned to Priyanka. Priyanka sent the bill to bank for
collection. But before due date Mayuri approached Priyanka with request for renewal of bill.
Priyanka agreed her request with condition that she should pay Rs. 2,400 in cash and should
accept a fresh bill for balance including interest Rs. 180, these arrangements were carried
through. But Mayuri became insolvent and Rs. 3,000 recovered from his estate as first and
final dividend.
Pass Journal entries in the books of Priyanka and prepare Priyanka's Alc in the books of
Mayuri
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Answer:
12000 is the correct answer
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