Question

received rupees 1000 from Suresh in full settlement of his accounts for 1150 journalise​

Answer 1

Answer:

Suresh a/c Dr 1000

to bank a/c 1000

Answer 2

Answer:

Journal entry

Cash A/c                     Dr  1000

Discount allowed A/c Dr    150

           To Suresh A/c                          1150

(being received as full settlement from suresh )

Explanation:

cash A/c - real account - cash comes in, therefore its debited

discount allowed - nominal account - its expenses , therefore its debited

suresh A/c - personal account - hes the giver (who pays ) therefore its credited