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Insolvent entry

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26 November 2014 x owes b 1000 , he declare insolvent , pay 20 paisa in a rupee what is the journal entry in the books of x ?????

26 November 2014 Dr: B a/c Rs.1000
Cr: Insolvent a/c Rs.800
Cr: Bank/cash Rs.200

27 November 2014 b a/c dr 1000

to bank a/c cr 200
to solvency a/c cr 800






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