pass the necessary journal entries for the following transactions April 20 Ramesh settled his account by issuing cheque including rs 60 for interest 12,000
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Journal entry :
Bank a/c Dr 11940
Discount a/c Dr 60
To Ramesh a/c 12000
*Assuming that Ramesh is debtor he settled his account of 12000 by cheque and we allowed discount of 60
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