Accounting · Journal Entries
Which of the following represents the correct journal entry for the given transaction? 'Returned goods to Mr. B worth ₹500 and paid ₹4,000 to Mr. B in full settlement of a total payable amount of ₹4,500.'
Verified Solution4 OptionsUpdated: October 2026👁️1 View
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- 1Mr. B A/c Dr ₹4,000 ; To Cash A/c ₹4,000
- 2Mr. B A/c Dr ₹5,000 ; To Cash A/c ₹4,000 ; To Return Outwards A/c ₹500 ; To Discount Received A/c ₹500
- 3Mr. B A/c Dr ₹4,500 ; To Cash A/c ₹4,000 ; To Discount Received A/c ₹500✓
- 4Mr. B A/c Dr ₹4,500 ; To Cash A/c ₹4,000 ; To Return Outwards A/c ₹500
Correct answer
Mr. B A/c Dr ₹4,500 ; To Cash A/c ₹4,000 ; To Discount Received A/c ₹500
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