Question

journal entry paid by ECS cash to amit rs 58,500 who allowed us discount rs 1,500

Answer 1

Explanation:

being cash received and discount received

Answer 2

Answer:

        In the books of a journal entry

particulars                               Amount     Amount

Amit A/C  Dr.                             57000

discount received A/C Dr.         1500

   To, ECS A/C                                             58500

[ being cash paid by ECS to Amit is Rs 58,500 who allowed us to discount rs 1,500 ]

Workings:

Discount received = ( 58500 - 1500 ) = 57000