Question

journal entry for purchased goods from vijay of the list price of 10000

Answer 1

Explanation:

❤ANSWER❤

Trade Discount is allowed by manufacturer to wholesaler or retailer when they buy a product or group of products. Trade Discount is nothing but a reduction in the list price which the manufacturer or wholesaler is willing to give up for retailer or wholesaler.

Trade Discount is allowed by manufacturer to wholesaler or retailer when they buy a product or group of products. Trade Discount is nothing but a reduction in the list price which the manufacturer or wholesaler is willing to give up for retailer or wholesaler.Trade Discount is generally allowed to build strong business relationship and is not recorded separately in the books all amounts recorded in a purchases or sales book are done in the net amount only.

Trade Discount is allowed by manufacturer to wholesaler or retailer when they buy a product or group of products. Trade Discount is nothing but a reduction in the list price which the manufacturer or wholesaler is willing to give up for retailer or wholesaler.Trade Discount is generally allowed to build strong business relationship and is not recorded separately in the books all amounts recorded in a purchases or sales book are done in the net amount only.Trade Discount is allowed on both Cash & Credit Purchase.

Trade Discount is allowed by manufacturer to wholesaler or retailer when they buy a product or group of products. Trade Discount is nothing but a reduction in the list price which the manufacturer or wholesaler is willing to give up for retailer or wholesaler.Trade Discount is generally allowed to build strong business relationship and is not recorded separately in the books all amounts recorded in a purchases or sales book are done in the net amount only.Trade Discount is allowed on both Cash & Credit Purchase.The journal entry will be:-

Trade Discount is allowed by manufacturer to wholesaler or retailer when they buy a product or group of products. Trade Discount is nothing but a reduction in the list price which the manufacturer or wholesaler is willing to give up for retailer or wholesaler.Trade Discount is generally allowed to build strong business relationship and is not recorded separately in the books all amounts recorded in a purchases or sales book are done in the net amount only.Trade Discount is allowed on both Cash & Credit Purchase.The journal entry will be:-Purchases A/c………………………Dr 8000

Trade Discount is allowed by manufacturer to wholesaler or retailer when they buy a product or group of products. Trade Discount is nothing but a reduction in the list price which the manufacturer or wholesaler is willing to give up for retailer or wholesaler.Trade Discount is generally allowed to build strong business relationship and is not recorded separately in the books all amounts recorded in a purchases or sales book are done in the net amount only.Trade Discount is allowed on both Cash & Credit Purchase.The journal entry will be:-Purchases A/c………………………Dr 8000To Govind A/c……………………………………8000

Answer 2

Answer:

Purchases A/ C. Dr. 10,000

To Vijay 10,000

hopes it will help you

Rules of journal entries

1. Debit all expenses and losses and credit all income and gains
2. Debit what comes in and credit what goes out
3. Debit the receiver and credit the giver