Question

2 Pass necessary Journal entries for the following transactions in the books of Mahesh :
Mahesh started business with 25,000.
2) He ordered his supplier. Satish to send 5,000 worth of goods.
() Purchased at 10% trade discount goods from A, the list price being 5,000.
14 Sold goods at 5% trade discount to Harihar, the list price being 2,000.
(5) Goods purchased from M/s Neel Kamal at a list price of 12.000 at 10% trade discount and
3% cash discount. Cash was paid upto 80% of the amount.
16) Sold to S Chauhan a trade discount of 6% and cash discount of 1% goods of the list price
of 15.000. He has paid 60% in cash.
(Ans. Total of Journal 56.300]
tions :
Trade Discount and Cash Discount​

Answer 1

Answer:

Mahesh started business₹25000.He ordered his supplier Satish to send ₹5000 worth of goods. Sold goods at 5% trade discount to Harihar the list price ₹2000. Goods purchased from Ms Neel Kamal at a list price of ₹12000 at 10% trade discount and 3% cash discount.Cash wash paid upto 80% of amount. Sold to S. Chauhan at a trade discount of 6% and cash discount of 1% Goods of the list price₹15000.He paid 60% in cash

Answer 2

Explanation:

answer of this question