Raman a creditor to whom 25000 were due to be paid accepted an unrecorded computer 18000 at a discount of - Accountancy - Dissolution of Partnership Firm

Question

Raman a creditor to whom 25000 were due to be paid accepted an
unrecorded computer 18000 at a discount of 10% and balance by cash

Mohit · Accepted Answer

Dear Student,
Kindly mention that what has been asked to answer, but on our
assumption we have passed journal entry(for chapter
dissolution)
<img alt="" src=
"https://s3mn%20mnimgs%20com/img/shared/content_ck_images/ck_5f254721d9a1d%20jpg"
style="width: 1023px; height: 621px;">
IT IS TO BE NOTED THAT THE ENTRY FOR ASSET TAKEN OVER
AGAINST LIABILITY SHOULD NOT BE PASSED

Regards

Raman a creditor to whom 25000 were due to be paid accepted an unrecorded computer 18000 at a discount of 10% and balance by cash