A bill discounted from bank of 5000 was dishonoured as debtor had become bankrupt No amount was recoverable - Accountancy - Dissolution of Partnership Firm

Question

A bill discounted from bank of ?5000 was dishonoured as debtor had
become bankrupt No amount was recoverable from him Pass journal
entry for dissolution

Sarthak Rattan Chopra · Accepted Answer

Dear student,
JOURNAL ENTRY

PARTICULARS
LF
DEBIT AMOUNT
CREDIT AMOUNT

Realisation a/c dr
To Bank a/c
(Being the payment made to the bank for the bill discounted with
bank now dishonoured)

5000

Regards

PARTICULARS	LF	DEBIT AMOUNT	CREDIT AMOUNT
Realisation a/c dr.. To Bank a/c (Being the payment made to the bank for the bill discounted with bank now dishonoured)		5000	5000

A bill discounted from bank of ?5000 was dishonoured as debtor had become bankrupt. No amount was recoverable from him. Pass journal entry for dissolution.