Sudha account settled with 10/ discount 6,000.how to record this transaction in the books of ledger a/c
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Explanation:
two ledgers are to be formed.....sudha account and discoun received account...
Debit sudha=5400..same on credit side of ledger
and.............
discount received both debit credit side are 600
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LEDGER ACCOUNTS IN THE BOOKS
Ledger are accounts that record all the transactions made in different account transferred from journal.
JOURNAL ENTRY WILL BE AS FOLLOWING
Sudha A/c ------dr 5,400
Discount Received A/c ------dr 600
To Cash A/c 6,000
( Being payment made to sudha and receiving
discount.)
LEDGER ACCOUNTS
- Entry to made in the ledger account of Sudha on credit side by Rs 5400.
- Entry to made in the ledger account of Discount Received on credit side by Rs 600.
- Entry to made in the ledger account of Cash on debit side by Rs 600.
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