Question

Paid to Pankaj cash Rs. 1000, cheque Rs 20000, Discount allowed by him Rs 500 (required journal entry)​

Answer 1

Answer:

Explanation:

Pankaj A/c Dr    Rs. 21,500.00

To  Cash                         Rs.   1,000.00

To Bank                          Rs, 20,000.00

To Discount A/c              Rs.      500.00

(being paid to Pankaj cash Rs. 1000, cheque Rs 20000, Discount allowed by him Rs 500)