Sold goods for Rs 10,000 on credit to kabil journal entry Kabil paid 10% discount by cheque Cheque received from kabil was sent to bank for collection
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You have to debit the party account (payable a/c) with full amount and credit the discount received account by 10% of the total value and credit the bank account with balance amount.
You have to debit the party account (payable a/c) with full amount and credit the discount received account by 10% of the total value and credit the bank account with balance amount.Suppose you are settling payable amount of XYZ of Rs. 100 by cheque and getting 10% discount. Journal entry is as follows:-
You have to debit the party account (payable a/c) with full amount and credit the discount received account by 10% of the total value and credit the bank account with balance amount.Suppose you are settling payable amount of XYZ of Rs. 100 by cheque and getting 10% discount. Journal entry is as follows:-XYZ …………………………... Dr 100/-
You have to debit the party account (payable a/c) with full amount and credit the discount received account by 10% of the total value and credit the bank account with balance amount.Suppose you are settling payable amount of XYZ of Rs. 100 by cheque and getting 10% discount. Journal entry is as follows:-XYZ …………………………... Dr 100/-To discount received …………… Cr 10/-
You have to debit the party account (payable a/c) with full amount and credit the discount received account by 10% of the total value and credit the bank account with balance amount.Suppose you are settling payable amount of XYZ of Rs. 100 by cheque and getting 10% discount. Journal entry is as follows:-XYZ …………………………... Dr 100/-To discount received …………… Cr 10/-To Bank a/c ………………………… Cr 90/-
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