2015
Jan. 6:
Purchased goods from Henry for 350,000 on 10% trade discount and 4% cash
discount and paid 60% amount by cheque.
Jan. 15:
Bought goods from Amit for 2,00,000 at terms 5% cash discount and 20% trade
discount. Paid 3/4th of the amount in cash at the time of purchase.
Jan. 18:
Sold goods to Sherpa at the list price of 350,000 less 20% trade discount and 4%
cash discount if the payment is made within 7 days. 75% payment is received by
cheque on Jan. 23rd.
Jan. 25:
Sold goods to Garima for 1,00,000, allowed her 20% trade discount and 5% cash
discount if the payment is made within 15 days. She paid 1/4th of the amount by
cheque on Feb. 5th and 60% of the remainder on Feb. 15th in cash.
With explanation and calculation of every transaction please.
Answers
Answer:
discount and paid 60% amount by cheque.
Jan. 15:
Bought goods from Amit for 2,00,000 at terms 5% cash discount and 20% trade
discount. Paid 3/4th of the amount in cash at the time of purchase.
Jan. 18:
Sold goods to Sherpa at the list price of 350,000 less 20% trade discount and 4%
cash discount if the payment is made within 7 days. 75% payment is received by
cheque on Jan. 23rd.
Jan. 25:
Sold goods to Garima for 1,00,000, allowed her 20% trade discount and 5% cash
discount if the payment is made within 15 days. She paid 1/4th of the amount by
cheque on Feb. 5th and 60% of the remainder on Feb. 15th in cash.
Answer:
refer the attachment
Explanation:
an. 6:
Purchased goods from Henry for 350,000 on 10% trade discount and 4% cash
discount and paid 60% amount by cheque.
Jan. 15:
Bought goods from Amit for 2,00,000 at terms 5% cash discount and 20% trade
discount. Paid 3/4th of the amount in cash at the time of purchase.
Jan. 18:
Sold goods to Sherpa at the list price of 350,000 less 20% trade discount and 4%
cash discount if the payment is made within 7 days. 75% payment is received by
cheque on Jan. 23rd.
Jan. 25:
Sold goods to Garima for 1,00,000, allowed her 20% trade discount and 5% cash
discount if the payment is made within 15 days. She paid 1/4th of the amount by
cheque on Feb. 5th and 60% of the remainder on Feb. 15th in cash.
