Question

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.

Answer 1

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.

Answer 2

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