Bale loan on liability side is 300 1 Bale Loan/3000/ Bale agreed to accept rs 2500 in full - Accountancy - Dissolution of Partnership Firm

Question

Bale loan on liability side is 300 1
Bale Loan/3000/
Bale agreed to accept rs 2500 in full settlement of his loan Show
it treatment in realisation a/c?

Neelu Chathli · Accepted Answer

Dear Student

As Bale had to be paid Rs 3,000 but he has accepted Rs 2,500, thus
there is a profit of Rs 500 This profit will be transferred to the
Realisation Account on the credit side as it is a nominal account

Journal

Particulars
L F
Debit Amount
Rs
Credit Amount
Rs

Bale’s Loan A/c
Dr

3,000

To Cash A/c

2,500

To Realisation A/c

500

(Being Bale’s loan paid
off at a profit of Rs 500)

Hope your doubts are cleared :-)

Regards

Journal
Particulars		L.F.	Debit Amount Rs	Credit Amount Rs
Bale’s Loan A/c	Dr.		3,000
To Cash A/c				2,500
To Realisation A/c				500
(Being Bale’s loan paid off at a profit of Rs. 500)

Bale loan on liability side is 300. 1 Bale Loan/3000/ Bale agreed to accept rs 2500 in full settlement of his loan.Show it treatment in realisation a/c?

Bale loan on liability side is 300. 1
Bale Loan/3000/
Bale agreed to accept rs 2500 in full settlement of his loan.Show it treatment in realisation a/c?