Question

cash paid to kanak Rs 450 and received discount Rs 50 ( Journal Entry)​

Answer 1

Explanation:

400 rupes is paid by kanak

Answer 2

Kanak A/c Dr 450

To cash A/c Cr 400

To Discount A/c Cr 50

(Being cash Rs. 400 paid to Kanak with a discount of Rs. 50)

• Kanak is receiving the money so the Kanak A/c will be debited.
• The money is paid in cash so cash A/c is credited together with discount A/c as we have gotten a discount of Rs. 50.