Question

Journal entry for:
paid to account payable on cash Rs.30000 after received Rs.2000 discount. ​

Answer 1

Answer:

creditor A/c Dr 32000

To cash A/c. 30000

To Discount received A/c. 2000

Explanation:

Since the liability decreases it will be debited and gain increases it will be credited and as a real account is decreased it will be credited.