Question

purchased goods at 50000 at 10% TD against cheque​

Answer 1

Answer:

purchase a/c Dr 45,000

to bank a/c 45,000

( being goods purchased )

Answer 2

Answer:

Explanation:

Purchases A/c      Dr  45000

    To Bank A/c                        45000

(Being goods purchased on 10% trade discount)

Actual cost = 50,000

Trade discount = 10%

hence amount = 50,000 - (50,000*10%)

                         = 50,000 - 5000

                         = 45,000