Question

cheque recieved from venkat for Rs 8800 and discount allowed 200 ???
journal entry​

Answer 1

Explanation:

Answer

Golden Rules of Journal

Personal account rule

Debit- The receiver.  

Credit- The giver.  

Real account rule

Debit- What comes in.  

Credit- What goes out.  

Nominal account rule

Debit- All expenses and losses.  

Credit- All incomes and gains.  

Now

The journal entry will be

Bank A/C     DR                      ₹ 2000

Discount allowed A/C    DR              ₹ 200

          To  Deepu's A/C                              ₹ 2200

(Being cheque recieved from deepu ₹ 2000 and discount allowed to him ₹ 200)