xyz ltd received Rs 39600 from Mr Anand (Debtor) in full and final settlement and allowed him a discount of Rs 400 what will be the journal entry in the books of xyz ltd to record this transaction?
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Cash a/c Dr. 39,600
Discount allowed a/c Dr. 400
To Anand a/c 40,000
Discount allowed a/c Dr. 400
To Anand a/c 40,000
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