Question

Cash paid by Shaina 18600 in full settlement of her account journal entrySunny deposited into Bank cash ​

Answer 1

Answer: Shaina A/c Dr :- 19000

To Cash A/c :- 18600

To Discount A/c :- 400

Explanation: We have purchased goods from Shaina costing Rs 19000 on Credit in the first transaction.

Now, we paid the cash with discount.

As per golden rules :- Shaina is a personal account, Cash is a real account and Discount is a nominal account.

So, Shaina is being written in Debit column because she is receiver.

Cash is being written in Credit column because it goes out.

Discount is being written in Credit column because is a gain.