Question 35 Chapter 4 – Unimax Publications of Class 11

Question 35 Chapter 4 – Unimax Publications of Class 11

35. Journalise the following transactions:
(a) X, who owed us Rs. 30,000 became insolvent
(b) Y, who owed us Rs. 40,000 is declared insolvent and 50 paise in a rupee is received from his estate.
(c) Received Rs. 4,000 from Z which were written off in previous year.
(d) Borrowed Rs.25,000 from X
(e) Rs. 500 due from Munish are irrecoverable.
(f) Lent Rs. 15,000 to Y.

The solution of Question 35 Chapter 4 – Unimax Publications of Class 11:

JOURNAL

Date	Particulars		L.F.	Debit	Credit
(a)	Bad Debts A/c	Dr.		30,000
	To X's A/c				30,000
	(Being bad debt incurred)
(b)	Cash A/c	Dr.		20,000
	Bad Debts A/c	Dr.		20,000
	To Y's A/c				40,000
	(Being 50 paise in a rupee is received)
(c)	Cash A/c	Dr.		4,000
	To Bad debts recovered A/c				4,000
	(Being bad debts recovered from Z)
(d)	Cash A/c	Dr.		25,000
	To X's Loan A/c				25,000
	(Being borrowed from X)
(e)	Bad Debts A/c	Dr.		500
	To Munish's A/c				500
	(Being bad debt incurred)
(f)	Y's Loan A/c	Dr.		15,000
	To Cash A/c				15,000
	(Being cash lent to Y)
	Grand Total			1,14,500	1,14,500