Goods of the list price of 8000 purchase at a trade discount 5%
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In Accounting books ....
Trade discount is not shown ...
It is a discount which is received on goods and services ....
Goods are of 8000 with trade discount 5% ....
So its value become 8000-5% .
8000-400
= 7600
Journal entry....
Purchase a/c dr...7600
- To cash a/c.......7600
( being purchase goods on trade discount )...
hope it's helpful to you....☺️✌️✌️
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