Question

Sangeeta and Manoj were partners in a firm sharing profits in the ratio of 4:3. The firm was
dissolved on 28-03-2004.
(a) Debtors Rs. 20,000 were taken over by Manoj for Rs. 18,000.
(b) Creditors Rs. 15,000 were paid at a discount of 5%.
(c) Expenses of realization Rs. 1,000 were paid by Sangeeta.
(d) Loss on realization was Rs. 7,000.
Pass the Necessary journal entries.​

Answer 1

Answer:

b). is correct options