Question

Enter the following transaction in the Journal of Gaurav Bros. :
May 10 Sold goods to Kailash of the list price of ₹100000 at trade discount of 15%.
May 13 Kailash returned goods of the list price of ₹4000.
May 18 Received from Kailash the amount due from him, under a cash discount of 5%.

Answer 1

Answer:

may 10-cash a/c dr 87000

           dicount a/c dr 13000

               to kailash a/c      100000

Explanation:

Answer 2

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