Question

15. Enter the following transactions in the books of Mulayam Singh :
Received 1.900 from Mayawati and allowed her discount 100.
Mar. 2. Paid 2,400 to Mishra and availed a discount of 100.
Mar. 8.
Received * 3,950 from Amar Singh in full settlement of his account of 4,000
Mar 9.
Paid 4,390 to Akhilesh by cheque in full settlement of his account of 4,500
Mar. 15. Suresh Yadav, who owed 5,000, paid the amount by bank draft in full settlement of his account, by avalling
3% cash discount.
Mar. 16. Dalip Yadav to whom 26,000 was payable, his account settled by receiving a discount of 1.5%
Mar. 23. Paid 2,400 by cheque to Ravi, availing a discount of 4%.
Mar. 24. Received 6,860 from Santosh, allowing her 2% cash discount
Hints : Cash discount given in percentage is calculated on the amount receivable/payable
(not on the amount received or paid). But when cash received/paid is given, the discount is
calculated as follows:
Rate
Discount = Amount Received/paid x
100- Rate
2400​

Answer 1

Explanation:

15. Enter the following transactions in the books of Mulayam Singh :

Received 1.900 from Mayawati and allowed her discount 100.

Mar. 2. Paid 2,400 to Mishra and availed a discount of 100.

Mar. 8.

Received * 3,950 from Amar Singh in full settlement of his account of 4,000

Mar 9.

Paid 4,390 to Akhilesh by cheque in full settlement of his account of 4,500

Mar. 15. Suresh Yadav, who owed 5,000, paid the amount by bank draft in full settlement of his account, by avalling

3% cash discount.

Mar. 16. Dalip Yadav to whom 26,000 was payable, his account settled by receiving a discount of 1.5%

Mar. 23. Paid 2,400 by cheque to Ravi, availing a discount of 4%.

Mar. 24. Received 6,860 from Santosh, allowing her 2% cash discount

Hints : Cash discount given in percentage is calculated on the amount receivable/payable

(not on the amount received or paid). But when cash received/paid is given, the discount is

calculated as follows:

Rate

Discount = Amount Received/paid x

100- Rate

2400