Question

Journal entries of cash paid to suman Rs 16800 and discount allowed by him Rs200??

Answer 1

Answer: 16600

Step-by-step explanation:

Discount is nothing but an Expense.

According to golden rule,Debit all Expenses and Credit all incomes.

The journal entry is a follow:

Suman A/c dr. 16800

Discount A/c dr. 200

To Cash A/c. 16600