Question

Journalise the following transactions in the books of M/s. R.K. & Co.

(i) Purchased goods at list price of Rs20,000 from Vishal at 20% trade discount against cheque payment.

(ii) Purchased goods at list price of Rs 20,000 from Naman at 15% trade discount against cash.​

Answer 1

Answer:

Particulars Dr.amount Cr.amount

1:Purchases a/c Dr. 16,000

To Vishal 16,000

(Being goods purchased from vishal on cheque payment with trade discount)

2: Purchases a/c Dr. 17,000

To Naman 17,000

(Being goods purchased from naman with trade discount on cash)

Explanation:

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