Make journal entry.....
Bought goods from Kailash for ₹20,000 at a trade discount of 10% and cash discount of 2 % . Paid 60% amount immediately.
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Well i think u shouldn't judge anyone before knowing them.
What u said in attachment isn't NIBBA AND NIBBI , they are bro and sis
Plz atleast don't judge them without knowing them. , and also , no using bad words here.
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Answer:
Journal Entry
- Purchase A/c Dr 18000
To Cash A/c 10584
To Kailash A/c 7056
To Cash Discount A/c 360
(Being goods purchased from Mr Kailash at a trade discount of 10% and cash discount of 2 % )
Working Note -
- Trade Discount of 10% on 20000 = Rs. 2000
(The entry of trade discount is never recorded, it is simply deducted from purchase)
- Purchase = 20000 - 2000 = Rs. 18000
- Cash Discount of 2% on 18000 = Rs. 360
#SPJ3
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