Question

Purchase of goods from Naveen of the list price of ₹20,000. He allowed 10% trade discount, ₹500 cash

discount was also allowed for quick payment.​

Answer 1

Answer:

urchase of goods from Naveen of the list price of ₹20,000. He allowed 10% trade discount, ₹500 cash

discount was also allowed for quick payment

Answer 2

Answer:

purchases account debit ---------18000

to discount received 500

to cash a/c 17500