Question

paid subash 4,750 and discount received

Answer 1

There will be a decrease in creditor (liabilities), increase in capital and and a decrease in cash (assets) if you are doing accounting equation.

In journal entry

Cash a/c dr.
Discount a/c
To Subhash Cr

Answer 2

Journal entry 

Subash A/c Dr  5000
      To cash A/c            4750
       To discount  A/c      250
(being paid to subash )