Question

purchase goods from mohan @6000 at 20%trade discount​

Answer 1

Answer:

20/100×6000=1200

so the cost of goods=6000-1200

=4800

okk

Answer 2

Answer:

hey mate here's ur answer

Explanation:

Purchased goods from Mohqn for ₹6000 at 20% trade discount

The journal entry would be as follows:

Purchase a/c ddrRs. 4000

To mohan’s a/c ₹4000

Purchase is nominal a/c and expense so debited

Mohan is creditor as goods are purchased on credit so Mohan’s a/c is credited

Trade discount is not recorded in books. Only cash discount is recorded in books of accounts.

(6000 - 20% = 4000)

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