Question

received a cheque from Shiv and cooperation to home goods were sold from 3000 last year allowed him to 2% discount pass journal entry​

Answer 1

2%is trade or cash discount
Bank A/C Dr. 2940
To Shiv and cooperation. 2940



if cash then
Cash A/C Dr. 2940
Dis A/C Dr. 60
to Shiv and cooperation. 3000