The accounts of all those things whose value can be measured in terms of money and which are the properties of the business are termed as Real Accounts such as Cash Account, Furniture Account etc.
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Ravi purchased on credit goods for ₹ 5,00,000 Less 20% Trade Discount. As per the terms, he can deduct 4% Cash Discount if he pays the full amount within 15 days. What amount he will have to pay to avail the Cash Discount?
A furniture of book value of ₹ 15,000 was sold for ₹ 6,000 and new furniture was purchased for ₹ 20,000. Furniture Account is debited with ₹ _________.