Question

journalise the following transaction :-

sold goods purchased at list price of 50,000 sold at a profit of 25% less 10% trade discount against cheque.​

Answer 1

Answer:

Cost price of the product = 50000 less than 15 % (50000 x 85/100) = 42500, Selling price of product = 25% less than profit (42500 x 125/100) = 53,125, 10% of trade discount = 10/ 100 x 53125 = 531. So, the accurate selling price of goods = 53,125-531= 52594.

Explanation:

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Answer 2

Answer:

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