Jornal entry of purchased goods of list price of rs 30000 from amirta at 20% trade discount
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27
Purchase A/c. Dr. 24000
To Amrita. 24000
Answered by
1
Purchases a/c Dr. 30000
To discount received a/c 6000
To Amrita a/c 24000
Explanation:
In this question we are purchasing goods for 30000 rupees at a 20% trade discount from Amrita. Here we will debit or purchase account as purchase are increasing, we will credit our discount received account as we are getting a discount of 6000 rupees that is 20% from the total amount, we will credit amrita as we are purchasing the goods from her here in our case Amrita is our creditor.
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