At the time of dissolution of a firm, Debtors were Rs. 17,000 out of which Rs. 500 became bad and the rest realised 60%. Which account will be debited and by how much amount?
A. Realisation Account by Rs. 16,500.
B. Profit and Loss Account by Rs. 500.
C. Cash Account by Rs. 9,900.
D. Debtors Account by Rs. 7,100.
Answer:C
At the time of dissolution of a firm, Debtors were Rs. 17,000 out of which Rs. 500 became bad and the rest realised 60%. Which account will be debited and by how much amount?
A. Realisation Account by Rs. 16,500. B. Profit and Loss Account by Rs. 500. C. Cash Account by Rs. 9,900. D. Debtors Account by Rs. 7,100.