Question

Received from shyam RS 950 and discount RS 50

Answer 1

Answer:

cash a/c debited

shyam a/c credited

discount a/c credite

(being cash received from Shyam and discount given to him)

Explanation:

cash is debited because according to the accounting rules cash comes under real account and according to it debit what comes in and credit what goes out

discount comes uder nominal account because it is an expense and expenses are always credited

shyam is a personal account and cash is being received by Shyam so it is credited because according to personal account debit the receiver and credit the giver.