Question

Jan. 15 Sold goods for casti,
and paid 40% by cheque
an. 20 Sold goods to Ram of the list price of 1,25,000 less 20% Trade discount and 2% cash discount​

Answer 1

Answer:

Ram A/c Dr. 14,000

Discount Allowed A/c Dr. 1,000

To Sales A/c 15,000

(Being goods sold to Ram on credit and allowed discount).

Here , goods have been sold to ram for Rs 15000 also allowed discount of Rs 1000. So sales A/c have been credited by Rs 15000 and and Ram's A/c and Discount allowed A/c are debited by Rs 14000 & Rs 1000 respectively.