Sarthaks Test
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What Journal entries would you pass in the following cases? 

a. Expenses of realisation Rs.1,500. 

b. Expenses of realisation Rs.600 but paid by Mohan, a partner. 

c. Mohan, one of the partners of the firm, was asked to look into the dissolution of the firm for which he was allowed a commission of Rs.2,000. 

d. Motor car of book value Rs.50,000 taken over by creditors of the book value of Rs.40,000 in final settlement.

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Journal Entries

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