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mediumMCQCUET Accountancy 2022 23 Aug Shift 2 PYQs2026Accountancy
1 mark

On 1st April 2022, A, B and C decided to dissolve their firm. On the date of dissolution, Sundry debtors appeared in Balance Sheet at Rs. and Provision for doubtful debt at Rs. . Debtors to extent of Rs. were bad. In journal entry for realisation of debtors:

  1. A
    Bank A/c will be debited with Rs.
  2. B
    Realisation A/c will be credited with Rs.
  3. C
    Bank A/c will be credited with Rs.
  4. D
    Realisation A/c will be credited with Rs.

Solution & Step-by-step Explanation

Gross Debtors = Rs. .Bad debts = Rs. .Amount realised from debtors = Rs. .The journal entry for realisation of assets is:Bank A/c ...Dr. To Realisation A/c Thus, the Realisation A/c will be credited with Rs. .

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On 1st April 2022, A, B and C decided to dissolve their firm. On the date of dissolution, Sundry debtors appeared in Balance Sheet at Rs. and Provision for doubtful debt at Rs. . Debtors to extent of Rs. were bad. In journal entry for realisation of debtors:
A
Bank A/c will be debited with Rs.
B
Realisation A/c will be credited with Rs.
C
Bank A/c will be credited with Rs.
D
Realisation A/c will be credited with Rs.

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