Question

Journal Entry

1-Bought goods from Rishi for 40,000 at a trade discount of 20% and cash discount of 4%, IGST 12%,. Paid 50% immediately.

Plz answer to my question ​

Answer 1

Explanation:

Purchase A/c Dr. 5,000

Input CGST A/c Dr. 450

Input SGST A/c Dr. 450

To Cash A/c 5,900

(Being the goods purchased for cash, paid CGST and SGST @9% each).