Question

rupees 25000 discount with his bank @12% per anuam journalise the transaction ​

Answer 1

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▶️ Bank Ac Dr.......22000/-

Discount Allowed Ac Dr...3000/-

To Bills Receivable Ac Cr....25000/-

[ Being Bill discounted with the bank ]

Calculation of discount :-

25000 × 12÷ 100

= 3000

Explanation :-

↪️ Bill discounted with the bank therefore bank Ac will be debited.

↪️Discount Allowed amounted to rs 3000 is also written in the debit side.

↪️ Bills Received after the Discount therefore Bills Receivable Ac Credited.

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