When a creditor accepts an asset whose value is more than the due amount, identify the entry that will be passed for the payment of cash to the firm for the difference by the creditor?

Cash A/c Dr.
    To Realisation A/c

The correct answer is Option 4 - 
Cash A/c Dr.
    To Realisation A/c

* If the creditor accepts an asset as full and final settlement, no journal entry is required. However, * If the creditor accepts an asset as a partial payment, the entry is recorded for the cash payment portion only.
* If a creditor accepts an asset worth more than their outstanding debt, they will make a cash payment to the company for the remaining balance. In this case, the journal entry would be:
Debit: Bank or Cash A/c
Credit: Realisation A/c