Question

(iv) An amount of Rs. 300 was received in full settlement from a customer after he
was allowed a discount of Rs. 50 but while writing the books, the amount
received was entered in the discount column and discount allowed was entered
in the amount column.

Answer 1

Answer:

Answer is 300 .tell is this right?

Answer 2

Answer:

Cash A/c dr. 250

To Discount allowed A/c 250

Explanation:

the correct journal must be

1.cash A/c dr. 300

Discount allowed A/c 50

To customer A/c 350

now here cash is just 50/- so 250 must be debited a.D Discount allowed is now 300 by mistake so it must be credited by 250 .