Question

pass a jounrel entry. with explanations. brought goods for the cash of the list price 50,000@20%trade discount and 5%cash discount

Answer 1

purchases a/c Dr 50,000
To trade discount a/c 10,000
To cash discount a/c 2,500
To cash a/c 37,500

journal entries are based on the golden rules of accounting.
here,
Purchases a/c is a real a/c. According to the golden rules in case of a real a/c What comes in should be debited and what goes out should be credited. Here purchases come in so it's debited.
In case of a nominal a/c Expenses and loses should be debited and incomes and gains should be credited. Here, we are getting discount which is a gain for us. So it's credited.
Cash a/c is also a Real a/c. Here cash goes out so it's credited.