Question

6 Jan purchased goods form Henry for 50,000 on 10%trade discount and 4%casedoscount and paid 60%amount by cheque

Answer 1

Answer:

Purchase a/c Dr. 45000

To bank a/c Cr. 27000

To cash a/c Cr. 17280

To discount a/c Cr. 720

Explanation:

trade discount : 50000 of 10% = 5000

= 50000-5000

= 45000

60% paid by cheque = 45000×60/100

= 27000

and remaining 40% amount paid by cash with cash discount = 45000×40/100

= 18000

discount 4% = 18000 × 4/100

= 720

=18000-720 = 17280