Question

Purchase good of 8000 less 25% trade discount and 10% cash discount from patil and paid him have the amount due

Answer 1

Answer:

₹5400

Explanation:

Trade discount know at the time of purchase only and no entry for trade discount.

8000(-) 25%= 6000 is the value of goods.

Cash discount is given when you pay your debts fast or paying full amount in a single payment.

you should pass entry for cash discount.

6000 (-) 10%= 5400.

Answer 2

is in the attachment above.....