Question

Purchased goods at a list price of Rs. 50,000
from Mohan for cash at a Tio of 10% and c.
of 5% Enter the above transaction in the
book
of shyam.​

Answer 1

Answer:

Record the following transactions in Journal in the books of Shyam & Co., Delhi: <br> (i) Received cash from Ram of Delhi for a bad debt written off last year Rs. 10,000. <br> (ii) Paid in cash Rs. 9,800 to Sohan of Delhi on his account for Rs. 10,000 in settlement. <br> (iii) Received Rs. 9,750 from Hari in full settlement of his account for Rs. 10,000. <br> (iv) Bought goods at the list price of Rs. 25,000 from Mohan, Meerut (UP) less

trade discount and

cash discount and paid

by cheque. <br> (v) Sold goods to Rakesh of Delhi at the list price of Rs. 50,000,less

trade discount of

cash discount and paid

by cheque. <br> (vi) Sold goods to James of Kolkata for Rs. 10,000, allowing him a trade discount of

and a cash discount of

. <br> CGST and SGST is levied @

each on intra-state purchase and sale of goods. IGST is levied @

on inter-state purchase and sale of goods.

Answer 2

Purchased goods at a list price of Rs 50000 from Mohan for cash at trade discount 10 and cash discount 5