Paid cashof rs.7400 to mona in full ettlement of her account journal entry
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make journal entry of -paid to sita Rs 965 in full payment of her dues of Rs 1000
answer
The Journal entry for your concerned query is: Sita Dr. 1,000 To Discount Received A/c Dr. 35 To Cash A/c 965 (Paid to Sita in full settlement of his dues) In this entry, Sita accepts Rs 965 out of her dues of Rs 1,000, therefore, the balance amount of Rs 35 (1,000-965) will be regarded as Discount Received.
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make journal entry of -paid to sita Rs 965 in full payment of her dues of Rs 1000
answer
The Journal entry for your concerned query is: Sita Dr. 1,000 To Discount Received A/c Dr. 35 To Cash A/c 965 (Paid to Sita in full settlement of his dues) In this entry, Sita accepts Rs 965 out of her dues of Rs 1,000, therefore, the balance amount of Rs 35 (1,000-965) will be regarded as Discount Received.
Hope this answers your query.
Keep posting for further doubts!!
I hope this will help you
if not then comment me
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