Question

Journal entry for-

Bought goods at list price of 15000 from Rakesh less 10% trade discount and 5% cash discount and paid 40% price immediately. Also apply 12% IGST

Answer 1

Purchase a/c Dr. 13500
IGST receivable a/c. 1620
To Cash a/c. 5778
To Rakesh ac. 8667
To Discount a/c Dr 675

Answer 2

I hope this helps you