Question

Goods purchased from m/s neel kamal at a list price of 12000 at 10% trade discount and 3% cash discount.cash was paid upto 80% of the amount

Answer 1

heyyaa,,,
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Journal entry for Goods purchased from m/s neel kamal at a list price of 12000 at 10% trade discount and 3% cash discount.cash was paid upto 80% of the amount will be;
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Purchase a/c Dr 10,800
to cash a/c 9,312
to discount a/c 288
to m/s Neel kamal a/c 1200.
(being goods purchased)

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Hope it helps☺☺☺

Answer 2

hey mate

here is your answer

list price---> 12,000

trade discount (10%) --> 1200

agreed price --> 10,800

80% of the amount ---> 8,640

cash discount (3%) --> 259.2





purchase a/C dr. 10800

to cash a/C 8,380.8
to discount a/C 259.2
to Kamal's a/C. 2,160

(being goods purchased and 80% payment made n discount received 3%)