The amount received from the sale of furniture for ₹7000 (Book value ₹10,000). The amount to be shown in the receipts and payments account will be:

₹10,000 on the receipts side ₹7000 on the receipts side ₹3000 on the payment side ₹3000 on the receipts side

₹7000 on the receipts side

The Amount received by the company is shown in the receipts and payments account. So, sold value is shown which is ₹7000.