Question

Journalise the following transactions :
a)Sold goods to Shruti ₹60,000 at 15 % trade discount and 4 % discount . Received 75%
amount immediately through a cheque
b) Satish who owed us ₹20000 is declared insolvent and 60 paise per ₹ is received from his
estate
c) Charge depreciation on Machinery @10 % (Macinery ₹75000 )
d) Outstanding salary at the end of the year ₹30,000

Answer 1

Answer:

a) 45000

b)3333.33...

c)7500 rupees

d) sorry don't know