Question

Karim invoiced us goods worth rs.5000 at 2% trade discount, half of which was consigned to Khan at 20% above cost. Pass journal entry.​

Answer 1

500 trade discount and offer to give 5% cash discount if immediate payment is made. The Purchase A/c will be debited by ______. A. Rs.

Top answer

Discount are two types , trade discount and cash discount. Trade discount is allowed on the list price hence amount of trade discount is not reflected ...