Question

Cash received from Suma Rs. 17500 in full settlement of her account Rs 18000.​

Answer 1

Answer:

Journal Entry :

Cash A/c   Dr.                      975

Discount Allowed A/c Dr.      25

         To Shyam  A/c                                 1000

(Being Received Rs 975 in full settlement from Shyam.)

Therefore, shyam's A/c is credited with Rs.1000.