Question

Following transactions took place during April:
Apr. 3
Bought Goods from X for 20.000 at a trade discount of 10%
Apr. 7 Sold goods of list price 15,000 at a trade discount of 10%
to A
Received a cheque from B for 6,000.
Apr. 11 Cheque of B deposited into bank.
Apr. 9​

Answer 1

Answer:

purchase account dr. 18,000

to X 18,000

( 20,000×10/100= 2000 , goods = 20,000-2000)

A.. .. Dr. 13,500

to sales account 13,500

( 15,000×10/100= 1500 , sales= 15,000-1500)

cheaque in hand account...... Dr 6000

to B 6000

bank Account ........... Dr 6000

to cheque in hand account 6000