Question

a) Sold goods worth 10,000 for cash 12,000.
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Answer 1

Answer:

2000 is the PROFIT

Explanation:

CP: 10000

SP: 12000

CP<SP

Profit = SP-CP

=12000-10000

=2000

PROFIT = 2000

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Answer 2

Answer:

sale a/c                      Dr                         12,000

To cash a/c                                                              12,000