Question

purchase goods from sudhir for rs.240000 at trade discount 25% and cash discount 10. 3/4 amount paid in cash​

Answer 1

Answer:

The answer is in the explanation section.

Explanation:

First, we calculate trade discount.

25% of 240000 = Rs. 6000

24000 - 6000 = Rs. 18000

Out of Rs. 18000,

3/4 of Rs. 18000 is on cash = 13500

1/4 of Rs. 18000 is on credit = 4500

10% cash discount is only cash basis part = 13500 * 0.1 = 1350

Cash paid is 13500-1350= 12150

Journal entry is:

Purchase A/c        Dr.                 18000

    To Cash A/c                           12150

    To discount received A/c       1350

    To Sudhir A/c                         4500

(Being goods purchased from Sudhir, partly on cash and partly on credit)

Hope this helps:). Please make me the brainliest answer.