Pass journal entry for the following transaction-Shyam, who owed? 15.0

1.	Pass journal entry for the following transaction-Shyam, who owed? 15.000 became insolvent and 50% is received from his estatefor bad debts written off last year
Answer» Answer: Cash a/c dr. 7500 Bad debts a/c dr. 7500 To shyam's a/c 15000 Explanation: Shyam aapna debtor tha..... use paise lene baki the....lekin koi reasons KE vaje se voo insolvent ho gya......lekin aacha H 50% mil gya....pura bad debt hone se toh aacha h.... thoda mile.....so 50%mila aur 50% ka loss ho gya......toh dekh BHAI...... 50% mila... NA.... matlab kuch toh aara h.....isiliye cash account ko debit kiya.......phir bad debts ko debit isiliye kiya.... kyu ki bad debts nominal account h..... nominal ka RULE kya h??...... dr all expenses isiliye debit aur shyam jo debtor tha..... lekin abb insolvent hoo gya....toh reverse entry......isiliye usko credit kr diya......

Pass journal entry for the following transaction-Shyam, who owed? 15.000 became insolvent and 50% is received from his estatefor bad debts written off last year

Answer»

Answer:

Cash a/c dr. 7500

Bad debts a/c dr. 7500

To shyam's a/c 15000

Explanation:

Shyam aapna debtor tha..... use paise lene baki the....lekin koi reasons KE vaje se voo insolvent ho gya......lekin aacha H 50% mil gya....pura bad debt hone se toh aacha h.... thoda mile.....so 50%mila aur 50% ka loss ho gya......toh dekh BHAI...... 50% mila... NA.... matlab kuch toh aara h.....isiliye cash account ko debit kiya.......phir bad debts ko debit isiliye kiya.... kyu ki bad debts nominal account h..... nominal ka RULE kya h??...... dr all expenses isiliye debit aur shyam jo debtor tha..... lekin abb insolvent hoo gya....toh reverse entry......isiliye usko credit kr diya......

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