Question

Bought goods of list price ₹15000 from Ravi at trade discount 10% and 2 % cash discount and paid 40% amount by cheque.

Enter this transaction in the Journal.

Answer 1

heyaa,,,
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Journal entry for Bought goods of list price ₹15000 from Ravi at trade discount 10% and 2 % cash discount and paid 40% amount by cheque will be;
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Purchase a/c dr 13500
to Bank a/c 5,292
to discount a/c 108
to ravi a/c 5100
(being goods purchased and 40% amount is paid by cheque to avail discount of 2%)
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Hope it helps☺☺☺