Bought good for cash of the list price of 1, 00,000 at 20 percent trade discount and 5 percent cash discount journalist the transactions
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Answer:
Purchases a/c dr. 80,000
to cash a/c 76,000
to discount received a/c 4,000
Explanation:
list price = 1,00,000
TD @ 10% = (-) 20,000
= 80,000
CD @ 5%= (-) 4000
= 76,000
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