Question

Received cash 9,100 from Manu in full settlement of his account of 9,500.

Paid 9,120 to Rakesh, after deducting cash discount @ 4%.

Received from Raj by cheque 9,500 he having deducted a discount of 5%.

Amount due to Heera 12,000 paid in cash subject to a discount of 4%.​

Answer 1

Answer:

cash a/c Dr. 9100

Discount a/c 400

To manu a/c. 9500

Explanation:

because we provide the discount its loss for our self so losses comes under the nomina nature at this nature point of view wxapenses and losses should be debited at the same time we receive the 9100 amount in cash so cash is comes under real nature so that nature point of view cash should be debited