Question

Journal entry for received cash from ram chand discount allowed

Answer 1

heyaa,,,,
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Journal entry for received cash from ram chand discount allowed will be;
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cash a/c dr
discount a/c dr
to ram chand a/c.
(being cash received and allowed discount to him)
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¢ reason for debit;
¤ cash is coming in so, it will be debited.
¤ discount allowed is an expense to the business so, it will be debited.
¢ reason for credit;
¤ ramchand is the giver of cash so it will be credited.
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hope it helps☺☺☺

Answer 2

Answer:

Cash a/c dr 19,500

discount a/c dr 500

to ram a/c 20,000

Explanation:

(Being cash receive for ram and discount allows by him )