At the time of dissolution of partnership firm, debtors were realised at a discount of 5% (Book value was ₹48,000). Amount realised at the time of dissolution was-
Answer & explanation
Correct answer: option 4
The correct answer is Option (4) → ₹45,600.
Book value = ₹48,000
Debtors were realised at a discount of 5%
Realisation will be = 95%
Realisation amount = 48,000 x 95/100
= 45,600