Question

Paid Ajay by cheque under cash discount of 2 %
this is my doubt


here's the full question
2019 April 1 – Cash paid into bank Rs 50,000
April 3 – Bought goods from Ajay for Rs 40,000 and paid carriage
Charges Rs 1,000
April 7 – Sold 1/4th goods bought from Ajay to Mohan at a profit of
25%
April 10 – Paid Ajay by cheque under cash discount of 2 %
April 13 – Bought second-hand machine from Varun and company
For Rs 30,000 and paid Rs 4,000 for its installation and
Rs 1,000 for carriage.
April 15 – Goods lost by fire Rs 5,000 but it was not insured.
Bhartiya Vidya Bhavan
INDIAN EDUCATION SCHOOL, KUWAIT
Holiday Assignment

Grade 11 Subject: ACCOUNTANCY Date: 26/06/2019
April 17 – Mohan returned us 10% of goods
April 19 – Mohan settled his account by banked cheque
on the next day
April 21 – Paid insurance premium Rs 800 of which Rs 200 is
Prepaid
April 25 – Wages paid Rs 5,000 to Gopi but Rs 1,000 is still unpaid
April 29 – Ashoka from whom RS 5,000 was due to become insolvent.
He could pay only 40 paise in a rupee
(Total of the journal 2,24,250)


pleasseee answer asap

Answer 1

Explanation:

Ajay..... Dr 39,200

To bank 39,200

We had bought goods from Ajay and the amount is due... Rs 40,000 so he told if you give me money then I will give you 2% cash discount.... So we paid through cheque