7. Pass Journal entries :
(i)
Purchased goods from Anil of the list price of 50,000 at 15% Trade discount.
Returned goods to Anil of the list price of 2,000.
(iii)
Paid cash to Anil * 40,000 in full settlement of his account.
(iv) Sold goods to Mahak of the list price of 2,00,000 at trade discount of 20%.
(v) Mahak returned goods of the list price of 20,000.
(vi) Received from Mahak the full payment under a cash discount of 4%.
(vii) Sold goods to Khushi of the list price of 50,000 at 20% trade discount.
(viii) Khushi returned 1/4th of the above goods.
(ix) Khushi settled the account by paying cash under a discount of 5%.
(x)
Bought goods for cash of the list price of 1,00,000 at 10% trade discount
and 2¹/2% cash discount.
Record the fo
Answers
Answer:
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TS Grewal Solutions Archives - Page 5 of 5 - NCERT Books
01-Jul-2019 · (xii) Aman returned goods of list price of ₹ 10,000 sold to him at ... Purchase Price = 50,000 – 15% = Rs.42,500 ... (vii) Sold goods costing ₹ 40,000 to Anil for cash at a ...
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