Accounts to be credited:
1. Cash Account
2. Accounts Payable Account

Explanation:
When making a payment to Ajay for Rs 4,800 by check, we need to credit the appropriate accounts to reflect the transaction accurately in the financial statements. In this case, we need to credit the Cash Account and the Accounts Payable Account.

1. Cash Account:
The Cash Account represents the amount of cash held by the company. Since we are making a payment to Ajay, we need to reduce the amount of cash in our books by crediting the Cash Account. This account is usually classified as a current asset on the balance sheet.

2. Accounts Payable Account:
The Accounts Payable Account represents the amount owed by the company to its creditors. When we make a payment to Ajay, we are settling a liability, and therefore we need to credit the Accounts Payable Account to reduce the amount we owe him. This account is usually classified as a current liability on the balance sheet.

Example:
Let's assume that the full statement of the payment is Rs 5,000. In this case, we need to credit both the Cash Account and the Accounts Payable Account with the amount of Rs 4,800.

- Cash Account: Rs 4,800 (credited)
- Accounts Payable Account: Rs 4,800 (credited)

The remaining Rs 200 can be considered as a discount or adjustment, if applicable, and can be recorded in the appropriate accounts based on the nature of the transaction.

By crediting these accounts, we are reflecting the payment made to Ajay accurately in our financial statements. This ensures that our books are up to date and that the financial information presented is reliable and useful for decision-making.

Overall, it is important to credit the Cash Account and the Accounts Payable Account when making a payment to Ajay by check to maintain accurate financial records and provide transparency in the company's financial statements.

Ajay a/c Dr. ₹ 5000
to bank a/c ₹ 4800
to discount received a/c ₹ 200