Question

goods of selling price of rs.20,000 were sold at a trade duscount of 5% and cash discount 2%​

Answer 1

Answer:

In the books of journal Entry

particulars                                         amount       amount

Sales A/C Dr.                                      17000

Trade discount A/C                            2000

Cash discount  A/C                             1000

     To, Goods A/C                                                   20000

[ goods sold worth Rs. 20000 with trade discount and cash discount. ]

workings :

Trade discount @ 10% = 20000 * 10% = 2000

Cash discount @ 5% = 20000 * 5% = 1000

Answer 2

Answer:

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Explanation:

since their is a 5% trade discount :

5% * 20000 = 1000

20000 - 1000 = 19000

now take into account the 2% :

2% * 19000 = 380

19000 -380 = 18620

the customer will pay 18620 as they will get a total discount of 1380

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