Multiple choice

What is the journal entry for transaction of cash received from Harish at 5% cash discount?

  1. Dr. Harish, Cr. cash and Cr. discount

  2. Dr. cash, Cr. Harish and Cr. discount

  3. Dr. cash, Dr. discount received and Cr. Harish

  4. Dr. cash, Dr. discount and Cr. Harish

Reveal answer Fill a bubble to check yourself
D Correct answer
Explanation

Cash comes in so debited, dicsount is an expenes so debited and Harish is giver so credited.