Goods sold to janki worth rs 12000 at 20% trade discount and 2.5% cash discount.60% amount received in cash.
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On a machine there is 10% trade discount on the marked price of Rs 2,50,000. But the machine is sold at ? 2,16,000 after givinga cash discount. How much is this cash discount (in%)?
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DEBTOR A/C DR 3744
CASH A/C DR 5616
DISCOUNT ALLOWED A/C DR 240
TO SALES A/C. 9600
Explanation:
TRADE DISCOUNT IS A DISCOUNT ALLOWED BY THE SELLER TO THE PURCHASER OF GOODS IN LARGER QUANTITY.IT IS NOT SHOWN SEPERATLY RATHER DEDUCTED FROM THE PRINCIPAL VALUE.
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