Question

journalise 1) mr karuna a debtor paid rs 3400 in full settlement of 3500

Answer 1

Cash A/c Dr. 3400
Discount allowed A/c Dr.100
To karuna A/c. 3500

Answer 2

Hey There !

Cash A/c Dr . 3400
Discount allowed A/c Dr 100
To Mr karuna 3500

Note :-

* We debit the cash because it is coming in our business ( what comes in debit and what goes out credit )

* we credit the Mr Karuna because he is the giver ( debit the receiver and credit the giver )

Thanks