Question

Paid swami & Bros by cheque in full settlement journal entry for this transaction​

Answer 1

Answer:

In case of full settlement like

we have to give swami 2700 and we give him 2500 in Full settlement of his a/c, then the entry will be

Swami & bros a/c Dr. 2500

To Bank a/c 2500

and the rest 200 will be trade discount

hope this will help

Answer 2

Answer:

Swami a/c Dr

to bank a/c

to discount received