Question

journal entery for paid to somu Rs. 8600 discount allow by him Rs.400​

Answer 1

Answer

Let us recall the rules of journal

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

Somu A/C    DR               ₹ 9000

    To Cash A/C                ₹ 8600

    To Discount received A/C      ₹  400

( Being Cash paid to Somu and discount received)

Answer 2

The answer to the following question is given below.

Explanation:

Given:

Paid to Somu in cash = 8,600

Discount received = 400

                           Books of (--- Ltd)

                      Journal entries (as on ---)

Date     Title and Explanation                    Debit       Credit

            Somu                        A/c  Dr            9,000

               To  Discount received A/c                         400              

               To Cash / Bank          A/c                            8,600

(Being rs. 8,600 paid to Somu in full settlement of his account)

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