the point is January 31. I'm little bit confused who is the receiver and vice versa
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in this receiver is bir and co. cz check out the entry of jan 8 . businessman purchase the goods from him so he is paying the amount of that purchase
so journal entry should be...
bir&co. a/c 950 dr....
discount allowed a/c 50 dr...
to bank a/c 1000
( being payment made in full settlement)
hope it's helping you!!
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