Question

purchase goods worth 335000 from alpha limited and adjusted 250000 receivable after allowing 5 % discount and balance by cheque

Answer 1

Answer:

Purchases A/c. Dr. 3,35,000

To Bank A/c. 68,250

To Bills receivable A/c. 2,50,000

To Discount received A/c. 16,750

(Being goods purchased @5% discount and bills receivable settled.)

I hope this is helpful