Question

2. paid 4850 to Philips in full settlement of his
account 5000
3. sold goods of the list price of 10,000 to Botham for cash at 10%
trade discount and 5 %cash
discount.
​

Answer 1

Answer:

Philips a/c                      Dr ₹5,000

 To Cash a/c                        ₹4,850

 To Discount Received a/c  ₹150

(Being paid to philips on full settlement)

Cash a/c                         Dr ₹8,550

Discount Allowed a/c     Dr ₹450

 To Sales a/c                        ₹9,000

(Being goods sold for cash and allowed discount)

I hope it helps :)

Explanation: