Question

Entry of June 6-sold goods to ritu rs. 100000 at trade discount of 20% and cash discount 10%, if the payment is received within ten days. She paid half the amount on June 26th and 30%of the remainder on June 30

Answer 1

June.6 Ritu A/C ................Dr 80000
To sales A/C. 80000
(being goods sold to Ritu)

June.26 Cash A/C ..............Dr. 40000
To Ritu A/C. 40000
( being half of payment received from Ritu)

june.30. cash A/C Dr.......... 12000
to Ritu a/c 12000
(being payment received from Ritu)