Question

He sold goods costing Rs 50,000 at a profit of 20% for cash

Answer 1

Selling Price Will Be..

60000

Answer 2

Cash A/c Dr. 60,000

To Sales A/c 60,000

(goods sold Rs 50000 at 20% profit for cash)

Note: cost of goods 50000

20%profit + 10000

Total sales=60000