Question

received cheque from ritesh in full settlement

journal entry

Answer 1

Answer:

Bank A/C. Dr

Discount allowed A/C. Dr

To ritesh

Explanation:

1) Cash is recived in bank

2) In full settlement mean discount allowed kiya hai

3) anmol is debtor which is less now

Answer 2

Answer:

Bank A/C

to Ritesh A/C

Explanation:

debit the receiver

credit the giver