Question

2017
January 5 Bought from Saran Brothers at 5% Trade Discount-
(a) 15 Parag' saris @ 300 per sari
(b) 25 'Rupali' saris @ 250 per sari.​

Answer 1

JOURNAL ENTRY:

(a) DATE. PARTICULAR. DR. CR.

5/1. Sari A/c. Dr. 4275

To Saran's A/c. 4275

(being sari purchased from Saran Brothers)

• WORKING NOTE

15 Sari @300 per Sari

15×300

4500, 5% trade discount

4500×5÷100=4275

(b) DATE. PARTICULAR. DR. CR.

5/1. Sari A/c. Dr. 5938

To Saran's A/c. 5938

(Being sari purchased from Saran Brothers)

• WORKING NOTE

25 Sari @250 per sari

25×250

6250, 5% trade discount

6250×5÷100=5937.5 (5938 approx).

I hope this will help you friend.