Question

amount due to Mr. Prabin Rs. 16000 paid in cash subject to a discount of 3% give journal Entry​

Answer 1

Explanation:

discount is 3%

S.P is Rs 16000

let M.P to be x

discount=(3/100)x

=}. (3/100)x=x-16000

=}. (3/100)x-(x)= -16000

=}. -(97/100)x= -16000

=}. x=16000×100/97

=}. x=16,494.84

M.P=Rs16,494.84