Question

accountancy class 11 journal

Answer 1

jan 14 ...cash acc. dr .......8400

to gupta shawl.... 8400

working note

he paid 50 % of all that is 20000÷2 =10000

so trade dis. is of 25% i.e 2500 (cash dis. is given only when the payment is made on words.)

there fore the payment made to us by gupta shawl is 7500

full IGST@12 % = 7500×2× 12%= 1800

therefore the 50 % IGST will be 1800÷2 = 900

7500 +900 (including igst or can be shown separately in journal)

feb.10 cash acc dr ............... 8400

To gupta shawl..... 8400