There was a contingent liability for B/R received from Ashok for Rs. 20,000 and discounted with the bank. Ashok became insolvent and 75 paise in a rupee were received from his estate. How much amount will be debited/credited to Realisation Account? Post category:Accountancy Reading time:1 mins read SOLUTION Debit Rs. 20,000 and Credit Rs. 15,000. Please Share This Share this content Opens in a new window X Opens in a new window Facebook Opens in a new window Pinterest Opens in a new window LinkedIn Opens in a new window Viber Opens in a new window VK Opens in a new window Reddit Opens in a new window Tumblr Opens in a new window Viadeo Opens in a new window WhatsApp Read more articles Previous PostIn the Balance Sheet Total Debtors appear at Rs. 50,000 and Provision for Doubtful Debts appear at Rs. 1,500. How much amount will be realised from Debtors, if bad debts amount to Rs. 10,000 and remaining debtors are realised at a discount of 5%. Next PostHow much amount will be paid to Creditors for Rs. 25,000 if Rs. 5,000 of the creditors are not to be paid and the remaining creditors agreed to accept 5% less amount? You Might Also Like What is meant by retirement of a partner? September 27, 2022 What is meant by redemption of debentures by lump sum payment? September 30, 2022 State why non-cash transactions are ignored while preparing a Cash Flow Statement? October 6, 2022 Leave a Reply Cancel replyYou must be logged in to post a comment.