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    				| 1. | Pooja who owed 60,000 is declared insolvent. First and final composition of 80% is recovered from Recovered 56,000 from Sneh on her insolvency, being 80% of the amount duePrecovered 19,900 from Akansha whose account of 324.800 was written off as bad in the past | 
| Answer» Cash account dr. 48000 Bad debts account DEBIT. 12000 To POOJA. 60,000Cash account debit. 56000 Bad debts account debit. 14000 To Sneh 70,000Explanation:56000÷80*100 = 70,000 Cash a/c..... dr. 19,900 to bad debts RECOVERED. 19,900 | |