Question

Placed an order with rakash for supply of the list price of 100000 in this connection raman paid 10 % of the list price as an advance by cheque

Answer 1

Explanation:

place an order with rakesh for Rs 1,00,000

and 10% paid in advance by cheque

paid in advance = 1,00,000×10/100

= 10,000

Remaining balance Rs 90,000

Bank A/c Dr 10,000

To paid in advance 10,000