Question

1 Purchased goods costing 2,00.000 from Hari &
Co. Pald 75% immediately by cheque to avail 4%
discount
2 Sold goods to Vishal Traders costing 40,000 at
25% profit, allowing 10% trade discount and 10% cash
discount. Received 80% payment immediately by
cheque
3. Pass Journal Entries for the following transactions:​

Answer 1

openion- discount is normally given by seller for making full settlement before the date,I dont know about this case even the liability left after the discount made