
Question 17 Chapter 4 - Unimax
17. Enter the following transactions in books of Twinkle.
2021
May 1 Received 10,000 from Divya which were written off as bad debts.
May 7 Anil was declared bankrupt. He owed Rs. 4,000 to us. Nothing could be recovery from his estate.
May 10 Suresh was declared bankrupt. He owed Rs. 6.000 to us. 50% could recovered from his estate be recovered
May 11 Received cash Rs. 2,000 for bad-debts written off Last ear.
May 17 Sohan who owed us Rs. 50,000 was declared insolvent and a cheque of 60 paise in a Rs. is received from him in full settlement.
JOURNAL OF TWINKLE
| Date | Particulars | L.F. | Debit | Credit | |
|---|---|---|---|---|---|
| 2021 | |||||
| May 1 | Cash A/c | Dr. | 10,000 | ||
| To Bad-debts recovered A/c | 10,000 | ||||
| (Being bad debts recovered) | |||||
| May 7 | Bad debts A/c | Dr. | 4,000 | ||
| To Anil A/c | 4,000 | ||||
| (Being Anil become bad debts) | |||||
| May 10 | Cash A/c | Dr. | 3,000 | ||
| Bad debts A/c | Dr. | 3,000 | |||
| To Suresh A/c | 6,000 | ||||
| (Being amount recovered from Suresh, declared insolvent) | |||||
| May 11 | Cash A/c | Dr. | 2,000 | ||
| To Bad-debts recovered A/c | 2,000 | ||||
| (Being cash received from bad debts) | |||||
| May 17 | Bank A/c | Dr. | 30,000 | ||
| Bad debts A/c | Dr. | 20,000 | |||
| To Sohan A/c | 50,000 | ||||
| (Being Sohan become bankrupt, 60 paise in R could be recovered) |
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Opening Journal Entry – its Rules and Examples
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Accounting & Commerce Educator
Sarbjit Singh holds a B.Com and M.Com degree and has over 12 years of teaching experience in double entry bookkeeping, financial accounting, and business studies.
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