Question

old furniture sale for cash plus CGST and SGST at the rate of 6% each give journal Entry​

Answer 1

Answer:

Bank A/C-Dr.448000

To sales A/C-394240

To output CGST-26880

To O/P SGST-26880

(Being goods sold for cash)

Calculate 6% on both cgst sgst seperately and on original price

CGST:448000×6/100 - 26880

SGST:448000×6/100 - 26880

53760

Then 448000-53760 = 394240

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