Question

goods sold to kapil 70,000 @ 2% cash discount in 1/2 down payments & Journal Entry ?

Answer 1

$CASH  AC DR  68600\\CASH DISCOUNT AC DR 1400\\         TO KAPIL AC CR 70000$

Answer 2

hello your answer is here

cash a/c dr 34300

Kapil a/c dr 35000

discount allowed a/c dr 700

to sales a/c 70,000

(being goods sold on 2% cash discount and 1/2 payment received)