Question

purchase goods from Kamal sports at the list price of 60000 with 5% trade discount and 10% cash discount.
Half of the above amount is paid in cash and half amount paid through cheque.
pass journal entries!!​

Answer 1

Answer :

Purchase A/C Dr. 57,000

To Cash A/C 25,650

To Bank A/C 25,650

To Discount Received A/C 5,700