Question

journalise the following 1)received from Mr Hariprasad rupees 3960 in full settlement of rs 4020 2) Swapan paid rupees 6250 in full settlement of his loan amounting to rs 6000

Answer 1

Here is your answer :-

1) Cash A/c. Dr 3960
Discount allowed A/c Dr 60
To Mr . Hariprasad 4020

2) Loan A/c Dr 6250
To swapan 6000
To Interest on loan A/c 250

Thanks .

Answer 2

1) cash a/c dr. 3960
Discount allowed A/c dr. 60
To Mr. HariprasadA/c 4020

2) loan a/c dr. 6000
Interest on loan A/c dr. 250
To Swapan a/c 6250