Question

Journalise the following transactions:

(i) Sold goods costing ` 60,000 to Dinesh against cheque at a profit of 40% on cost less 20% Trade

Discount and paid carriage ` 500 (not to be charged from the customer).

(ii) Sold goods costing ` 45,000 to Manoj at a profit of

1

33 %

3

on cost less 20% trade discount and

paid carriage ` 400 (to be charged from the customer).

(iii) Paid by Cheque ` 6,000 as fire insurance premium for a period of 12 months starting 1st July, 2017.

Financial year closes on 31st March every year.

(iv) Spent ` 300 for refreshment of a customer.​

Answer 1

Answer:

45% is the correct answer

Explanation:

@truebrainlian

Answer 2

Answer:

45% is the correct answer

Explanation

@BrainlyKing88