Question

cash received from Kajal 36000 after allowing her discount 10% amount debited to discount account will be​

Answer 1

Explanation:

36000/90 = 400

400×100= 40000.

so, the amount given as discount is 4000.

the journal entry will be

cash a/c dr 36000

discount allowed a/c dr 4000

to kajal a/c.

( being cash recieved from kajal after giving discount)

Answer 2

Answer:

Cash received from Kajal rs 36,000 after allowing her a discount of 10%. The amount debited to the discount account will be:36000*100/90=40000.

Explanation:

kajal is a debtor, and according to the second rule of the journal, kajal will be credited, and cash is coming, so cash will be debited according to the first rule of the journal, and the discount will be debited according to the third rule of journal

Rule of accounting

The 3 golden rules of accounting

Real Account. ...Personal Account. ...Nominal Account. ...Rule 1: Debit What Comes In, Credit What Goes Out. ...Rule 2: Debit the Receiver, Credit the Giver. ...Rule 3: Debit All Expenses and Losses, Credit all Incomes and Gains.  

solutions:

36000/90 = 400

400×100= 40000.

So, the amount given as a discount is 4000.

the journal entry will be

cash a/c dr 36000

discount allowed a/c dr 4000

To Kajal a/c. 40000

narration( being cash recieved from kajal after giving discount)