Question

Journalise the following transactions in the books of Bhushan Agencies:
(i) Received cash from Bharat 20,000, allowed him discount of $ 500.
(ii) Received from Vikas 35,000 by cheque, allowed him discount of 7 750.
20% less IN
(xii) Aman returned goods of list price of 10,000 sold to him at 10% trade discos​

Answer 1

Answer:

(ii) Received from Vikas ₹ 35,000 by cheque, allowed him discount of ₹ 750.

(xii) Aman returned goods of list price of rs 10000 sold to him at 10% trade discount. (i) Purchased goods of list price of Rs. 20,000 form Vishal at 20% trade discount against cheque payment.

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