Question

journalise the following in the books of Noor April 1 goods purchased from nibha for rs 8000 trade discount@10% April 3 above goods sold to muskan at original price less 4% trade discount April 5 1/2th of the total goods returned by muskan April 9 goods received back from muskan returned to nibha​

Answer 1

Explanation:

April 1 purchases account Dr 7200

To nibha account 7200

April 3 muskan account Dr 6912

To sales account 6912

April 5 sales returns account Dr 3456

To muskan account 3456

April 9 nibha account Dr 3456

To muskan account 3456

* trade discount should not be recorded, it should be deducted before entering the books of accounts