Question

Journal entry_1)purchase goods of rs 90000 at 10% trade discount and 10% cash discount from rakesh and 1/3 amount received by cheque

Answer 1

Answer:

Purchase A/c Dr. :- 81,000

To Cash A/c :- 48,600

To Discount A/c :- 5,400

To Cheque A/c :- 27,000

Explanation:

Trade Discount us not mentioned in Journal.