When a creditor accepts an asset whose value exceeds his claim, the creditor is expected to pay back the excess amount in cash to the firm. This excess amount represents a gain on realisation and is therefore credited to the Realisation Account.
When a creditor accepts an asset whose value is more than the amount due to him, he will _______ the excess amount which will be credited to _______ Account.
Held on 29 May 2023 · Verified 13 Jul 2026.
Pay, Bank
Not pay, Creditors
Pay, Realisation
Not pay, Realisation
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