Question

recieved from ram kumar by cheque 3880 and allowed him discount and sent it to bank120

Answer 1

Answer:

Bank A/C dr. AMT .

Discount Allowed A/C dr. AMT.

To Ramkumar's AMT.

Explanation:

As it is received in cheque so it will be deposited into bank . so the first entry is bank a/c dr.

Discount allowed is an expense for us , so it is debited.

RAMKUMAR IS THE GIVER SO IT WILL BE CREDITED

Answer 2

Answer:

Bank Account Dr. 3880. Discount Allowed Account Dr. 120

To Cash Account. 4000