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Journal Entry

Q1 and Q3

Attachments

20200923_145707.jpg


Satyam Anand

Satyam Anand

CA Foundation

2K+

23-Sep-20 15:11

23

Answers (10)

What is your doubt?


Suraj Lakhotia

Suraj Lakhotia

Admin

23-Sep-20 17:00

Sir, how can I pass the journal entry for Q1 and Q2 in the above question


Satyam Anand

Satyam Anand

CA Foundation

2K+

23-Sep-20 17:31

Sir, I tried to solve this, please check whether it is wright or not ?

Attachments

20200923_173507.jpg


Satyam Anand

Satyam Anand

CA Foundation

2K+

23-Sep-20 17:36

I mean "right"


Satyam Anand

Satyam Anand

CA Foundation

2K+

23-Sep-20 17:38

In question 1, you will receive 25k cash. So Cash A/c Dr Bad Debt Dr To Debtors. (You can pass second entry in similar lines and share)


Suraj Lakhotia

Suraj Lakhotia

Admin

23-Sep-20 17:40

But cash is not received yet, so why to debit cash a/c now


Satyam Anand

Satyam Anand

CA Foundation

2K+

23-Sep-20 17:44

50% could be recovered.


Suraj Lakhotia

Suraj Lakhotia

Admin

23-Sep-20 17:45

Sir,Can we write Account receavable a/c instead of Cash account ?


Satyam Anand

Satyam Anand

CA Foundation

2K+

23-Sep-20 17:47

Because account receivable is an asset and it is increasing


Satyam Anand

Satyam Anand

CA Foundation

2K+

23-Sep-20 17:50

Because account receivable is an asset and it is increasing

Its not increasing


Suraj Lakhotia

Suraj Lakhotia

Admin

23-Sep-20 21:28

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