Question

Journal entry for sold goods 35000 to hooda at a trade discount 2%

Answer 1

Answer:

Hooda a/c dr 34300

To sale a/c 34300

Explanation:

In above question sale was made in credit as well as trade discount is also given to hooda:-

1) hooda has not made any payment so he is our debitors an due to sale it increase debitors which mean increase in assets(increase in assets record in Dr)

2) sale is an income. when we sale goid it increase our income (increase in income is Credit)