Question

Journal entry of Goods worth 80,000 at 20%trade discount and 5%cash discount​

Answer 1

Answer:

purchases A/c Dr. 64000

To cash A/c 60800

To discount received A/c3200

Explanation:

the amount of trade discount will not be shown in journal entry

Answer 2

Answer:

purchases ac _dr 64,000

to bank ac 60,800

to discount received ac 3,200

(being the cash* purchase of goods worth 80,000 at less 20% trade discount.)

*cash purchase doesnt necessarily mean payment was made by banknote cash. cash means a non credit transaction. that's why "to bank ac" is correct.

(hope my answer was helpful to you. please mark my answer the brainliest!!! I'll be very grateful.)