Question

Receive from pratap 5450
Allowed him discount 50

Answer 1

Explanation:

the journal entry will be....

cash a/c dr 5450

discount allowed a/c dr 50

to pratap a/c 5500

( being cash recieved from pratap and discount allowed)

Answer 2

Answer

Golden Rules of Journal

Personal account rule

Debit- The receiver.  

Credit- The giver.  

Real account rule

Debit- What comes in.  

Credit- What goes out.  

Nominal account rule

Debit- All expenses and losses.  

Credit- All incomes and gains.  

Now

The journal entry will be

Cash A/C        DR                ₹ 5450

Discount Allowed A/C   DR   ₹ 50

        To Pratap   A/C                    ₹ 5500

(Being  Cash Recieved from Pratap and discount allowed)