goods sold to mr x of rs5000/-,out of that we give him
discount allowed of rs 500/-,and we take setting charges of
rs1000/-.so what will be the entry?

Answer Posted / jai

balance sheet
--------------
mr. x ledger
-------------
cash 5000.oo
discount 500.00
-------------------------------------------
dr. 4500.00
setting charges 1000.00
-------------------------------------------
clossing bal. 5500.00

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