Recieved₹4000 From Murali In Full Settlement Of His Account
Answers
Explanation:
cash.
discount.
to murli
JOURNAL
Explanation:
for journal
some basic rules are given
Increase in Asset Debit
Decrease in Asset Credit
Expenses will be debited
Our Transaction is : Received ₹4000 From Murli In Full Settlement Of His Account
Aspect 1. cash is increased and cash is asset and increase in asset means debit
Aspect 2. Discount allowed to murli is our loss and rule is debit (Above given)
Aspect 3. Murli paid us cash , beacuse he is our debtor , by paying murli(debtor) will be decrease so murli will be credited according to above rule
Particulars Dr.(Amount) Cr.(Amount)
Cash A/C Dr.
Discount allowed A/C Dr.
To Murali A/C
(Being Cash received by murli by provide cash discount )
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