Question

Bought goo what's good from Kailash for 20000 at a trade discount of 10% and cash discount of 2% paid 60% amount immediately

Answer 1

Answer:

Journal Entry

Explanation:

Purchase A/c            Dr.               18,000

        To Discount Allowed A/c                         216

        To Cash A/c                                         10,584

         To Kailash A/c                                      7,200

(Being bought goods from Kailash @10% Trade Discount, and cash discount @2% )

Working Note -

Actual Price - 20000

less 10% TD      2000

So, cost price ₹ 18000 .

60% Amount was paid immediately and remaining on credit)

60% of ₹ 18000 is ₹ 10,800.  

Discount Allowed - 2% of ₹ 10,800 is 216

Hope this helps you dear :)

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Answer 2

Answer:

asfsaf

Explanation: