Question

DISCount
135, (2) Cheque 1,764,
Discount +36)
13. Journalise the following transactions-
2017
January 1 Commenced business with cash 15,000 and goods < 25,000.
January 6 Bought goods of invoice price * 10,000 from Abhay at trade
discount of 10% and Cash discount 5%.
January 12 Sold goods having invoice price of 15,000 to Anil at 5% trade
discount and cash discount of 200.
January 15 Withdrew goods for personal use 1,000 and cash 2,000.
(Ans. Total of Journal 66,250)​

Answer 1

Explanation:

cash A/c Dr 15000

goods A/c Dr 25000

To capital A/c 40000

purchase A/c Dr 9000

To discount A/c 450

To abhay A/c 8550

Anil A/c Dr 14050

Discount A/c Dr 200

To sales A/c 14250

Drawing A/c Dr 3000

To cash A/c 2000

To purchase A/c 1000