Question

Purchase goods from ankit worth rupees 40000 and 20%trade discount and 1/5 of anount paid in cash

Answer 1

Answer:

Purchases a/c dr. 32,000

to Ankit 25600

to cash a/c 6400

Explanation:

list price = 40,000

T.D@ 20%= 8000

= 32, 000

1/5 of 32000 = 6400

remaining amount is on credit = 25600