Question

journalise the transaction
Sold to Shanthi goods worth Rs. 40,000 less 2% discount and received
Rs.39,200 net by cheque.
de discount​

Answer 1

Answer:

Ram A/c                     Dr.        14,000

Discount Allowed A/c Dr.        1,000

                  To Sales A/c                       15,000

(Being goods sold to Ram on credit and allowed discount).

Here , goods have been sold to ram for Rs 15000 also allowed discount of Rs 1000. So sales A/c have been credited by Rs 15000 and and Ram's A/c and Discount allowed A/c are debited by Rs 14000 & Rs 1000 respectively..........................................

Explanation:

Answer 2

Answer:

Bank A/C Dr 39,200

Discount allowed A/C Dr. 800

To sales A/C. 40,000

(sold to shanthi .she made her settlement by cheque)