Journalize the following transactions:- - Sonam is declared insolvent. Received from his official Receiver a first and final dividend of 6op. In the rupee on a debt of Rs. 100 - Mohan who owed me Rs. 200 has failed. He pays me a composition of 50 p. in the rupee. - Received cash for a bad debt written off last year Rs. 70

In the books of……. Journal Entries | S.No. | Particulars | L.F. | Dr. | Cr. | | --- | --- | --- | --- | --- | | (i) | Cash A/c Dr. Bad Debts A/c Dr. To Sohan (For received a cash dividend of 60p. in the rupee out of his debt of Rs. 100 from Sohan on his in solvency) | | 60 40 | 100 | | (ii) | Cash A/c Dr. Bad Debts A/c Dr. To Mohan (For receiving a cash composition of 50 p. in the rupees from Mohan out of a debt of Rs. 200) | | 100 100 | 200 | | (iii) | Cash A/c To Bad Debts Recovered A/c (For cash received on account of recovery of a bad debt which was previously written off) | | 70 | 70 |