Question

Journal Entry for 'sold goods for cash of the list price of ₹ 20,000/- at 10% trade discount and 3% cash discount' .

(a)
Cash a/c ............Dr.........18,000
Discount a/c......Dr...........2,000
...............To Sales a/c...................20,000

(b)
Cash a/c ..............Dr........17,640
Discount a/c .......Dr..............360
..................To Sales a/c................18,000

(c)
Cash a/c.............Dr...........17,460
Discount a/c........Dr...............540
..............To Sales a/c..................18,000

(d)
Cash a/c ...............Dr..........17,460
Sales a/c................Dr................540
............To Discount a/c..............18,000 *​

Answer 1

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