Question

1.Received from bharat 20000 allowed him discount of 5%
journal :
cash a/c dr
Discount allowed a/c dr
To bharat a/c

2.Received from bharat 20,000 allowed him discount 500
journal:
Cash a/c dr
Discount allowed a/c dr
To bharat a/c

I have written the journal write the amount in both the cases....now please give answer ​

Answer 1

Answer:

1.Received from bharat 20000 allowed him discount of 5%

journal :

cash a/c dr 19,000

Discount allowed a/c dr 1,000

To bharat a/c 20,000

2.Received from bharat 20,000 allowed him discount 500

journal:

Cash a/c dr 19,500

Discount allowed a/c dr 500

To bharat a/c 20,000