(i) Recieved 1,000 from Suresh in full settlement of his account for

1.	(i) Recieved 1,000 from Suresh in full settlement of his account for 1,150.(ii) Received a first and final dividend of 50 paise in a rupee from the Official Receiver of Kamal, who owed us 1,200.(iii)Paid to Amit 150 in full settlement of 175. (iv) Paid 2,000 to Shyam on his account for 2,400.(v) Received 700 for Ramesh on his account for 800.(vi)Received 1,200 for Harish on behalf of Mukul.
Answer» (i) Cash A/c .....................Dr 1000 Discount allowed A/c .........Dr 150 To Suresh A/c ....................1150 (being received as full settlement from suresh) (ii) Cash A/c ........Dr 600 Bad debts A/c .........Dr 600 To Kamal A/c .............. 1200 (being cash received from Kamal) (iii) Amit A/c ..............................Dr. 150 Discount allowed A/c ....... ..Dr. 25 To cash A/c .............. 175 (Being cash paid) (iv) Shyam A/c ..............................Dr. 2000 Discount allowed A/c ....... ..Dr. 400 To cash A/c .............. 2400 (Being cash paid)

(i) Recieved 1,000 from Suresh in full settlement of his account for 1,150.(ii) Received a first and final dividend of 50 paise in a rupee from the Official Receiver of Kamal, who owed us 1,200.(iii)Paid to Amit 150 in full settlement of 175. (iv) Paid 2,000 to Shyam on his account for 2,400.(v) Received 700 for Ramesh on his account for 800.(vi)Received 1,200 for Harish on behalf of Mukul.

Answer»

(i) Cash A/c .....................Dr 1000

Discount allowed A/c .........Dr 150

To Suresh A/c ....................1150

(being received as full settlement from suresh)

(ii) Cash A/c ........Dr 600

Bad debts A/c .........Dr 600

To Kamal A/c .............. 1200

(being cash received from Kamal)

(iii) Amit A/c ..............................Dr. 150

Discount allowed A/c ....... ..Dr. 25

To cash A/c .............. 175

(Being cash paid)

(iv) Shyam A/c ..............................Dr. 2000

Discount allowed A/c ....... ..Dr. 400

To cash A/c .............. 2400

(Being cash paid)