5. Pass necessary Journal entries for the following transactions:
| 2024 | |
|---|---|
| April 01 | Mohan is declared insolvent. Received first and final dividend from his official Receiver 50 paise in a rupee against a debt of ₹5,000 |
| April 02 | ₹8,000 due from Ramesh is not recoverable |
| April 03 | Shyam, who owed ₹15,000 became insolvent and 50% is received from his estate |
| April 04 | Received ₹10,000 in cash from Sohan for bad debts written off last year |
T.S.Grewal/2024 Edition/Practical Problems/Q-05
For full question, please refer to the text book T.S.Grewal’s Double Entry Book Keeping-Financial Accounting, Textbook for CBSE Class XI published by Sultan Chand & Sons Pvt. Ltd.