Question

Inil purchased. 1.000 Add Gell Roller Pens a 50 each less 20% Trade Discount and 3%
Cash Discount if payment is made within 30 days. Anil Paid 10,000 within 30 days and
balance amount after 30 days period. Purchases Account will be debited and Discount
Received Account will be credited respectively with
(a) * 40.000. Nil.
(b) 40.000 300.
(c) 40.000, 1.200.
(d) 40.000, 900.​

Answer 1

Answer:

Anil paid 10,000 within 30 days and balance amount after 30 days period. Purchases Account will be debited and Discount ...