Question

Against the dues of 4830, paid * 4800 in cash for the final settlement to Jayeshbhai.​

Answer 1

Answer:

Journal entry

Cash A/c                     Dr   4800

Discount allowed A/c Dr       30

           To Jayeshbhai  A/c                      4830

(being received as full settlement from Jayeshbhai  )

Explanation:

Cash   A/c - real account - cash comes in , therefore its debited

discount allowed - nominal account - its expenses , therefore its debited

Jayeshbhai  A/c - personal account - hes the giver (who pays ) therefore its credited

Answer 2

your journal entry will be:

your your journal entry will be:

Jayesh bhai a/c. Dr. 4830

to cash a/c. 4800

to discount a/c. 30

(being cash paid to Jayesh bhai in full settlement)