Question

Goods purchased of list price of 25000 from Mayank less 20% trade discount and 5% cash discount and paid 40% by cheque journal entry​

Answer 1

Answer:

List price = 25000

Trade discount(20%). =5000

20000

Cash=12000

Bank=8000

Cash. =12000

Cash discount =600

Cash amount. =11400

Journal entry

Purchases a/c. Dr. 20000

To cash a/c. 11400

To bank a/c. 8000

To discount received a/c. 600

(Cash purchases)

Answer 2

purchase goods 4,000 form Rajesh 10% T. D