When a Creditor takes over an asset whose value is less than the amount due to him in full settlement of his claim, what entry shall be passed? Post category:Accountancy Reading time:1 mins read SOLUTION No entry. Please Share This Share this content Opens in a new window Twitter Opens in a new window Facebook Opens in a new window Google+ 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 PostWhy partner’s loan is not transferred to Realisation A/c? Next PostHow is Workmen Compensation Reserve shown in the Balance Sheet of a partnership firm, treated at the time of its dissolution? You Might Also Like Give one difference between an investing activity and a financing activity. October 6, 2022 Moneyplus company issued 2,50,000 Equity Shares of Rs. 10 each to public. All amounts have been received in lump sum. Pass necessary Journal entries in the books of the company. July 13, 2022 Compute Trade Receivables Turnover Ratio from the following: August 16, 2022 Leave a Reply Cancel replyYou must be logged in to post a comment.