1.

Sudarshan owes ? 2,850 and pays 2,775 in settlement . M / s Agarkar & Co. who owed 6,000 became insolvent , only 10 % of the amount due is realised . Received cheque from I. Mohan 5,450 . Allowed him discount * 150 . Received commission 5,000 half of which is in advance . Issued cheque in favour of M / s Khurshid All & Sons on account of the purchase of a machinery of 37,500 . Paid to Rao & Co. 79,000 on account for 10,000 . Goods destroyed by fire ( Sale Price ? 4,000 , Cost 3,000 ) . vil Claim made by Gupta & Co. for 35,000 , for defect in goods sold to them , claim admitted .​

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