Purchase goods of 10000 at 10%t.d. and paid cash immediately at 1% cash discount
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Purchases a/c——dr. 9,000
To cash a/c. 8,910
To discount received a/c 90
As 9,000 was derived after deducting trade discount of 10% on 10,000(10,000x10% = 1,000). 10,000-1,000= ₹9,000
And we will record entry with 9,000 because trade discount is not recorded in the books of accounts.
But we will show cash discount as shown in solution.
IF THIS ANSWER HELPS YOU THEN MARK IT AS BRAINLIEST
To cash a/c. 8,910
To discount received a/c 90
As 9,000 was derived after deducting trade discount of 10% on 10,000(10,000x10% = 1,000). 10,000-1,000= ₹9,000
And we will record entry with 9,000 because trade discount is not recorded in the books of accounts.
But we will show cash discount as shown in solution.
IF THIS ANSWER HELPS YOU THEN MARK IT AS BRAINLIEST
Answered by
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Answer:
10000%10 = 1000
10000-1000=9000
9000%1=90
9000-90=8910
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