Question

dately.
(b) 10% व्यापारिक छूट तथा 3% नकद छूट पर ₹ 8,000 का माल नकद वेचा
Goods sold
at 100% trade diccount journal entry​

Answer 1

Answer:

Explanation:

1. Trade Discount is only recorded in the books and no entry is prepared for this.

2. Presumed that cost of goods was Rs.8000.00.    I understand from the statement that Goods worth Rs.8000.00 10 % Trade Discount and 3% cash discount

Total calculations will be as under:-

Sale of Goods, worth  Rs. 8,000.00

Trade Discount 10%              800.00

Sale                                       7,200.00

Cash Discount 3%                  216.00

Amount Received       Rs.  6,984.00

Entry will be

Cash A/c Dr       Rs. 6,984.00

Discount A/c Dr           216.00

 To sales A/c                                     7,200.00

(being Goods worth Rs.8000.00 sold 10 % Trade Discount (Rs.800.00 and 3% cash discount Rs.216.00)