Question

pass the Journal entry purchased goods from sanjiv of Rs 40000 plus IGST @ 18% at 10% Trade discount and 2.5 % cash discount. Paid amount at the time of purchase ​

Answer 1

Answer:

purchases a/c .....dr.

IGST a/c.................dr.

To cash a/c

To discount recieved a/c

Answer 2

Answer:

Purchase A/C. Dr. 40000

Input IGST A/C. Dr. 7200

To, Cash A/C. 46020

To, Discount Received A/C. 1180

(Being, Good purchased and plus IGST against cash discount)