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     EduGorilla 
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    Total creditors of the firm (already transferred to Realisation Account) were ₹30,000. Out of this, creditors waived their claim of ₹5,000 while the rest agreed to allow discount @ 10% of their respective claim.

    Options :-

    1. Bank A/c    Dr.  22,500
       To Realization A/c  22,500 

    2. Realization A/c   Dr.  22,500
         To Bank A/c  22,500      

    3. Bank A/c    Dr.  25,000
          To Realization A/c  25000    

    4. Realization A/c   Dr.  25,000
      To Bank A/c  25,000        

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Reply To: Total creditors of the firm (already transferred to Realisation Account) were ₹30,000. Out of this….
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