- Madhusudan accepted an unrecorded asset of Rs. 80,000 at Rs. 75,000 and the balance through cheque, against the payment of his loan to firm of Rs. 1,00,000.
- pass journal entry (case of dissolution)
Solution:
| Date | Particulars | L.F. | Amount(Rs.) | Amount(Rs.) | |
|---|---|---|---|---|---|
| Madhusudan's Loan A/c To realisation A/c To bank A/c (Payment made against Madhusudan's loan through an unrecorded asset and cheque) |
Dr. |
1,00,000 |
75,000 25,000 |