Question

bought goods of list price 30000 thousand from Ashish at trade discount 10% and 2% cash discount and paid 50% amount by cheque. ( journal entry ? )

Answer 1

heyaa,,
its journal entry will be;
purchase a/c Dr 27,00
to bank a/c Dr 13,230
to dis a/c Dr 270
to Ashish a/c 13500.
(being goods purchased from Ashish and 50% amount is paid to avail 2% cash discount)
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