Question

goods sold to mukesh of 50%profit on sale cost of goods is 50000. Pass the entry

Answer 1

Answer:

Mukesh ac Dr. 75000

To. Sales ac. 75000

Explanation:

only goods selling and buying cases the profit and loss percentage are calculated but not enter into a separate account. due to goods are sales to Mukesh it assumed that goods are sold on credit. so the entry will be

Mukesh Ac Dr. 75000

To sales Ac. 75000