Question

Bought goods of list price Rs. 10,000 at 15% trade discount from Priya.
(11) Paid to Priya in full receiving 4% cash discount.
(in) Bought in cash goods of list price Rs. 50,000 at 10% trade discount and 5%
cash discount
(iv) Sold in cash goods of list price Rs. 20,000 at 10% trade discount and 5% cash
discount​

Answer 1

Answer:

Purchase A/c Dr... 8500

to Priya A/c. 8500

(11) Priya A/c. Dr... 8500

to discount A/c. 340

to cash A/c. 8160

(in) Purchase A/c. Dr... 45000

to cash A/c. 42750

to discount A/c. 2250

Explanation:

Purchase A/c Dr... 8500

to Priya A/c. 8500

(11) Priya A/c. Dr... 8500

to discount A/c. 340

to cash A/c. 8160

(in) Purchase A/c. Dr... 45000

to cash A/c. 42750

to discount A/c. 2250