Question

purchase goods from Suresh of the list price of $ 8000 at 20% trade discount and paid him by cheque
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Answer 1

Answer:

Answer:purchases a/c -Dr. 7840

To bank a/c

7840

Explanation 8,000 × 20_

100

= 160

then, 8000-160-7840

we don't show trade discount as a dis. recieved or allowed bcs it is a list price.

Explanation:

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