Question

Paid to ram in full settlement 7700 ... Journal entry batao

Answer 1

Ram. Dr. 7700
To cash a/c. Dr. 7700
(If discount is not given )
Or
Ram. Dr. 8000
To cash a/c 7700
To discount received a/c 300
(If discount is given )
Hope this satisfies you

Answer 2

Answer:

Ram. Dr. 7700

To cash a/c. Dr. 7700

(If discount is not given )

Or

Ram. Dr. 8000

To cash a/c 7700

To discount received a/c 300

(If discount is given )

Explanation:

These entries list many accounts that are going to be credited or debited. The total number of debits and credits must equal zero according to the rule of journal entry, but there is no requirement that there be an equal number of credits and debits.

One debit might be followed by two or more credits, one credit could have two or more debits, or even two or more credits could have debits. For instance, Payroll could involve a lot of journal entries that can be summarised in compounded form.

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