CA CPT 2016 June Question Paper Fundamentals of Accounting for online practice

Mr. Sobby draws a two months bill of Rs. 50,000 on Mr. Dobby. Dobby accepts it on 01-02-16.Sobby discounts it on 15-02-16 at 18% per annum. On the due date of bill Dobby becameinsolvent and 50 paise in a rupee could only be recovered from his estate. Calculate theamount of bad debt: