Question

how to do journal entries of good sold for cash rs 50000 and allowed discount rs 500​

Answer 1

Answer:

cash Ac .. dr.. 49500

discount Ac ...dr. 500

To sales Ac........................50000

(being goods sold for cash and discount allowed)

Answer 2

Answer:

cash a/c                           dr.    49500

discount allowed a/c      dr.     500

                to sales a/c              50000