Question

Journal entries for Sold goods of ₹50000 at 10% trade discount and 10% cash discount to raj and received 50% by cheque and 20% by cash. ​

Answer 1

Answer:

Raj..... Dr. 10,350

Cheque in hand...... Dr. 22,500

Cash A/c....... Dr. 9,000

Discount allowded..... Dr. 3,150

To, Sales 45,000

Explanation: Cheque in hand (because owner recived cheque but didn't deposited it into bank.)