Question

1)Sold goods having invoice price of 20000 to kanak brothers at 5% trade discount on 3 month's credit
2) janak brothers became insolvent and the amount due was recovered @75 praise per rupee

Answer 1

Answer:

Purchases A/c. Dr. 15000

Trade Discount A/c. Cr.750

Cash A/c. Cr. 14250

Being goods purchased with discount

Answer 2

Answer:

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