Question

paid ₹ 11,800 to shyam lal in full settlement of ₹12,000 due to him

Answer 1

Journal entry

Shyam... 12,000

..... To discount received a/c... 200

...........To cash.. A/c....... 11,800


[ being cash is paid to shyam at discount.]

Answer 2

Explanation:

the journal entry will be.

shyam a/c dr 12000

to cash a/c 11800

to discount a/c 200.

( being cash paid to shyam in full settlement of his account)