Question

Goods of 50,000 sold at 10 % trade discount to Shashikant of Simla (H.P.) and payment
received through cheque.​

Answer 1

Answer:

Bank A/c Dr. 45000

To Sales A/c. 45000

( Being goods sold to Shashikant of Shimla less 10% Trade discount and amount paid by cheque)

Explanation:

There will be no entry for trade discount

but if it is cash discount then there will be entry