Question

Goods sold of rs 10000 and trade discount 5% what is amt if sale

Answer 1

Explanation:

In the books of journal

Enter

Particulars.

Amount

Sales A/C Dr.

17000

Trade discount A/C 2000

Cash discount A/C 1000

To, Goods A/C

2000

{ Goods sold worth Rs. 20000 with trade discount and cash discount}.

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

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

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