Purchase goods from Ravichandran of Mudra of the list price of 200000 at 25% trade discount at 4% cash discount on purchase price of goods faith cgst and sgst @ 9 for each paid the entire Mon by checking the same that sold goods to Ramalingam of Erode of the list price of 375000 at 20% trade discount and two person cash discount on sale price charged cgst and sgst @ 9% each full amount was received by cheque on the same date
Answers
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Answer
(JUNE 10)
Purchase. A/C. Dr 1,50,000
lnput CGST A/C. Dr. 13,000
lnput SGST A/C. Dr. 13,000
To Bank A/C. 1,71,000
To Discount received. A/C. 6,000
(being purchase from Ravichandran @25% T.D and 4% C.D)
(JUNE 25)
Bank A/C. Dr. 3,48,000
Discount allowed. A/C. Dr. 6,000
To sales A/C. 3,00,000
To output CGST A/C. 13,000
To output SGST A/C. 13,000
(being sold to Kumar and son's @20% TD and 2% CD)
TOTAL =. 5,31,000. 5,31,000
Answer:
Purchased A/c Dr. 150000
Input CGST A/c Dr. 13500
Input SGST A/c. Dr. 13500
To Bank A/c 177000
To Discount Received A/c. 6000