Question

goods sold to Mohan 100000 with 20%trade discount and 10%cash discount only 75% money received in cash​

Answer 1

Answer :

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Journal Entry :-

Cash Ac Dr... 54000/-

Cash Discount Ac Dr...8000/-

Account Receivable Ac Dr...10000/-

To, Sales Ac Cr....72000/-

( Being Goods sold to Mohan, cash discount allowed & Part payment received. )

NOTE : TRADING DISCOUNT ISN'T CONSIDER IN BOOK OF ACCOUNTS

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Thanks & Good day!

© Sachin BhaleRao!!