Question

make journal entry - sold goods of rs 8000 for rs 11000 and payment received by cheque at 5% discount . ​

Answer 1

Answer:

bank account _______ Dr 18550

discount account -------dr 550

to sales account. 19000

Answer 2

Answer:

Bank(Cheque) A/C.............Dr 10,450

Discount allowed A/C.......Dr. 550

To salesA/C. 8,000