Question

bought goods from kabir of list price 40000 less 20 percent trade discount​

Answer 1

Answer:

Trade Discount = List price - Rate at which goods offered

Answer = 40000 × 20% = 8000

Answer 2

Answer:

Explanation:

Purchases a/c. Dr. 32,000

To Kabir a/c. 32,000

Trade discount entry is not recorded in books.

Hope it helps you.