At The Time of Admission of New Partner Vasu, Old Partners Paresh and Prabhav Had Debtors of ₹6,20,000 - Bzziii.com

At the time of admission of new partner Vasu, Old partners Paresh and Prabhav had debtors of ₹6,20,000 and a provision for doubtful debts of ₹20,000 in their books. As per terms of admission, assets were revalued, and it was found that debtors worth ₹15,000 had turned bad and hence should be written off. Which journal entry reflects the correct accounting treatment of the above situation.

Date	Particulars		Amount (Dr.)	Amount (Cr.)
(a)	Bad Debts A/c	Dr.	15,000
	To Sundry Debtors			15,000
	Provision for doubt full debts A/c		15,000
	To Bad Debts A/c			15,000
(b)	Bad Debts A/c		15,000
	To Sundry Debtors			15,000
	Revaluation A/c		15,000
	To Provision for doubt full debts A/c			15,000
(c)	Revaluation A/c		15,000
	To Sundry Debtors A/c			15,000
(d)	Bad debts A/c		15,000
	To Revaluation A/c			15,000

Date	Particulars		Amount (Dr.)	Amount (Cr.)
(a)	Bad Debts A/c	Dr.	15,000
	To Sundry Debtors			15,000
	Provision for doubt full debts A/c		15,000
	To Bad Debts A/c			15,000

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CBSE Class 12 Accountancy Sample Paper-2022