Record necessary Journal entries in the following cases : (a) Creditors worth ? 85,000 accept
Channel: Doubtnut
Date: 2020-03-29

Record necessary Journal entries in the following cases : (a) Creditors worth ? 85,000 accepted ? 40,000 as cash and investment worth ? 43, 000 in full settlement of their claim . (b) Creditors were ? 16,000 . They accepted Machinery valued at ? 18,000 in settlement of their claim. (c) Creditors were ? 90,000 . They accepted Building valued at ? 1,20,000 and paid cash to the firm 30,000.