Question

Mahesh started business₹25000.He ordered his supplier Satish to send ₹5000 worth of goods. Sold goods at 5% trade discount to Harihar the list price ₹2000. Goods purchased from Ms Neel Kamal at a list price of ₹12000 at 10% trade discount and 3% cash discount.Cash wash paid upto 80% of amount. Sold to S. Chauhan at a trade discount of 6% and cash discount of 1% Goods of the list price₹15000.He paid 60% in cash

Answer 1

Explanation:

not have that much knowledge of solving the problem

Answer 2

Answer:

Explanation:

Journal entries

Cash A/c               25000

   To Capital A/c                            25000

Satish A/c               5000

  To  cash A/c                      5000

Cash A/c                4500

  To  Goods A/c                  4500

Harihar a/c            1900

 To  Cash A/c                       1800

 To Discount A/c                   100

Purchase A/c         10800

 To  Ms neelkamal A/c       10800

M/s Neelkamal A/c   9640

 To  Cash A/c                      9381

 To   Discount A/c                259

Chauhan A/c       14100

 To sales  A/c                      14100

Cash a/c               8375

Discount A/c            85

 To   S. Chauhan              8460