Question

Good costing 3200 sold at a profit of 20%on cost

Answer 1

Answer:

Cash A/c.............Dr.                  3840

To, Sales A/c                                           3840

(Being Goods sold at profit of 20%)

Explanation:

Sales = Cost + Profit

Sales = 3200 + 20% of 3200

Sales = 3200 + 640

Sales = 3840