Question

Paid to Vishaka Rs 14,000 in full settlement of Rs 15,000. Posting of Rs 1,000 will be made to the​

Answer 1

Hope it helps you bro....

Answer 2

Posting of Rs 1000 will be made to the discount received account.

• A journal entry is a transaction record of an enterprise in its books of accounting.
• Amount paid to Vishaka = 14000
• Full settlement amount = 15000
• Balance = 1000
• Thus, the correct journal entry is -

Vishaka A/c Dr. 15000

To Cash A/c  14000

To Discount Recieved A/c 1000