Question

Paid to kannan at full settlment

Answer 1

Answer:

Kannan

To cash a/c or bank a/c

To discount received a/c

Explanation:

Here accounts are involved :- Kannan, cash or Bank, the discount received.

Kannan is a personal account, thus, he will be debited as we debit the receiver.

Cash comes under real account, and it is going out of the business, so, it will be credited.

Also here, discount received ( nominal account) is a revenue to the business, so it will be credited too.