x ltd liable to pay 50000 to A and 50000 to B, X gives 100000 to A and tells pay 50000 to B.How the journal ll arise in X a/c
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How the journal ll come
Replies (2)
1. In X Ltd.:
A Dr. 50000
B DR. 50000
To Bank 100000
2. In A:
Cash Dr. 100000
To X Ltd. 50000
To B 50000
-------------
B 50000
To Cash 50000
3. B Ltd.:
Cash Dr. 50000
To X Ltd. 50000
In the books of X ltd.
A's A/c Dr. 100000
To Bank/Cash 100000
B's A/c Dr 50000
To A's A/c 50000
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