Question

Paid shyam cash 4000 discount allowed 225

Answer 1

Answer:

Shyam... Dr. 4225

To cash.... 4000

To dis..... 225

Answer 2

The answer of the following Question is given below

Explanation:

                               Journal Entry

                           In the Books of (--- Ltd)

Date                          Particular                  Debit   Credit 

            Shyam.                          a/c Dr.       4,225

            To cash.                         a/c                            4,000

            To discount allowed.     a/c                            225

        (Being cash paid to Shyam and get discount allowed.)

Calculation of Shyam Account

Cash Paid              =   4,000

Discount Received =   225

Total                      =   4,225

Note : Discount Allowed is a Revenue Type profit , so Discount allowed should be credited.

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