Question

bill accepted by Hari 4,00,000
the same bill was discounted by bank 5% --i need journal entry for this which one should be credited ​

Answer 1

Answer:

3,80,000/-

Explanation:

subtract 5% from bill : 20000

400000-20000= 3,80,000

Answer 2

Answer:

380,000

Explanation:

First we find how much money discount by bank

= 4,00,000 × 5%

=4,00,000×5/100

= 20,000

Therefore :- we gave money to bank

== 4,00,000-20,000

= 3,80,000