Journalise the following: (i) Sonam is declared insolvent. Received from his official Receiver a first and final dividend of 60p. in the rupee on a debt of Rs. 100. (ii) Mohan who owed me Rs. 200 has failed. He pays me a composition of 50p. in the rupee. (iii) Received cash for a bad debt written off last year Rs. 70.
AccountancyClass 11CBSEAnswered 23 Jun 2026
Answer
| S.No. | Particulars | L.F. | Dr. (Rs.) | Cr. (Rs.) |
|---|---|---|---|---|
| (i) | Cash A/c Dr. Bad Debts A/c Dr. To Soham (Received cash dividend of 60p. per rupee out of debt of Rs. 100 from Soham on insolvency) | 60 40 | 100 | |
| (ii) | Cash A/c Dr. Bad Debts A/c Dr. To Mohan (Received composition of 50p. per rupee from Mohan on debt of Rs. 200) | 100 100 | 200 | |
| (iii) | Cash A/c Dr. To Bad Debts Recovered A/c (Cash received on recovery of bad debt previously written off) | 70 | 70 |
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