Accountancy, asked by pratikshachaulagain3, 11 months ago

Journal entry of paid in full settlement

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Answered by suhanisuryawanshi29
8

How do we write a journal entry for the following in financial accounting: "Amount due to Raj Rs. 5000 paid him Rs. 4950 in full settlement"? ... We will pay cash to Raj . Cash is an asset . When asset decreases , we have to credit it by certain amount.

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Answered by swatichaudhary5789
0

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