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Received Rs 2380 from hari in full settlement of his account.?
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Received Rs 2380 from hari in full settlement of his account.?
If you need a journal entry ....then
CashA/c dr.....
Discount A/c
To hari A/c
CashA/c dr.....
Discount A/c
To hari A/c
Community Answer
Received Rs 2380 from hari in full settlement of his account.?
Explanation of the Transaction of Receiving Rs 2380 from Hari
Background Information
Before explaining the transaction, it is necessary to provide some background information about the account. The account in question is between me and Hari, where I owed him some money. The amount owed was not specified in the question. However, it can be assumed that it was more than Rs 2380 as Hari settled the account in full by paying Rs 2380.
Explanation of the Transaction
The transaction involved receiving Rs 2380 from Hari. This means that Hari paid me Rs 2380 to settle the account in full. This payment indicates that I owed Hari some money, and he was kind enough to give me time to pay it back. When I received the payment, I checked the amount to ensure that it was the correct amount.
Confirmation of Settlement
After receiving the payment, I confirmed with Hari that the account was settled in full. This is important because it ensures that there are no misunderstandings or disputes in the future. After the confirmation, I thanked Hari for his patience and for settling the account.
Importance of Keeping Records
It is important to keep records of transactions like this one. This includes the amount owed, the payment received, and the confirmation of settlement. Keeping records helps to avoid misunderstandings and disputes. It also helps to keep track of finances and to identify any discrepancies.
Conclusion
In conclusion, the transaction involved receiving Rs 2380 from Hari to settle an account in full. It is important to keep records of such transactions to avoid misunderstandings and disputes. Keeping records also helps to keep track of finances and to identify any discrepancies.
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Received Rs 2380 from hari in full settlement of his account.?
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Received Rs 2380 from hari in full settlement of his account.? for Commerce 2024 is part of Commerce preparation. The Question and answers have been prepared according to the Commerce exam syllabus. Information about Received Rs 2380 from hari in full settlement of his account.? covers all topics & solutions for Commerce 2024 Exam. Find important definitions, questions, meanings, examples, exercises and tests below for Received Rs 2380 from hari in full settlement of his account.?.
Received Rs 2380 from hari in full settlement of his account.? for Commerce 2024 is part of Commerce preparation. The Question and answers have been prepared according to the Commerce exam syllabus. Information about Received Rs 2380 from hari in full settlement of his account.? covers all topics & solutions for Commerce 2024 Exam. Find important definitions, questions, meanings, examples, exercises and tests below for Received Rs 2380 from hari in full settlement of his account.?.
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