Question

received amt from mohinder for goods sold for rs 7900 after allowing a discount of 1.25%

Answer 1

Answer:

Cash A/c. Dr. 7,801.25

Discount A/c. Dr. 98.75

To Sales A/c. 7900

Please note, if this is not a fresh entry and the goods were sold on credit earlier, please replace 'Sales' A/c. by 'Mohinder' A/c.