Question

bought goods from nihar of list price 30000 less 15%.
goods returned to nihar of list price 5000.​

Answer 1

purchase a/c Dr. 25500

To pur ret a/c 5000

To nihar a/c 20500

Answer 2

Answer:

Hey there I hope this Answer Helps - In a more clear way

Explanation:

So first we need to find the T.D of the price listed is 30,000

So 15% of 30,000 = 15/100 x 30,000

So it will be 4,500

Now we shall subtract 4,500 from 30,000 to get

25,500

Now the transactions are:

Purchases A/c  ... Dr    25,500

   To Nihar A/c                          25,500

(Being goods purchased from Nihar of List Price 30,000 less of T.D 15%)

Goods Returned to Nihar will be

Nihar A/c  ... Dr               4,250

    To Purchases Return A/c    4,250

(Being Goods Returned)

(NOTE: FOR THE AMOUNT WHILE RETURNING 5,000 WE AGAIN REMOVED TRADE DISCOUNT 15% OF 5,000 WHICH WILL BE 750

THEN WE SHALL SUBTRACT 5,000 - 750 TO GET 4,250