A trader maintained provision for doubtful debts @ 5%; provision for discount @ 2% on debtors and reserve for discount @ 2% on creditors which on Jan 1, 2008 stood at Rs 4,500, Rs 1,500 and Rs 1,200, respectively. His balances on Dec 31, 2008 and on Dec 31, 2009 were:
|
Dec 31, 2008 Rs |
Dec 31, 2009 Rs |
|
|
Bad Debts written off |
5,400 |
900 |
|
Discount Allowed |
1,800 |
600 |
|
Sundry Debtors |
60,000 |
18,000 |
|
Discount Received |
900 |
150 |
|
Sundry Creditors |
45,000 |
90,000 |
You are required to show necessary accounts in the ledger: