purchased goods costing 200000 from hari and co. paid 75'/. immediatetly by cheque to avail 4'/. discount---- paas journal entry
Answers
Answered by
52
heyaa,,,
____________________________
Journal entry for purchased goods costing 200000 from hari and co. paid 75'/. immediatetly by cheque to avail 4'/. discount will be;
____________________________
Purchase a/c Dr 2,00,000
to cash a/c 1,44,00
to discount a/c 6,000
to Hari a/c 50,000
(being goods purchsed from Hari )
____________________________
Hope it Helps.
____________________________
Journal entry for purchased goods costing 200000 from hari and co. paid 75'/. immediatetly by cheque to avail 4'/. discount will be;
____________________________
Purchase a/c Dr 2,00,000
to cash a/c 1,44,00
to discount a/c 6,000
to Hari a/c 50,000
(being goods purchsed from Hari )
____________________________
Hope it Helps.
Answered by
6
The answer is shown below.
Explanation:
The journal entry is shown below:
Purchase A/c Dr $200,000
To Hari and Co. $50,000
To Bank A/c $144,000
To Discount received A/c $6,000
(Being the 75% is paid by the cheque to avail the discount)
The computation is shown below:
For Bank account:
= $200,000 × 75%
= $150,000
The bank would be shown by
= $150,000 - $6,000
= $144,000
For discount
= $150,000× 4%
= $6,000
And, the remaining balance is credited to Hari & Co i.e $50,000
Learn more
Journal entries and ledger entries
https://brainly.in/question/5130183
What is journal entry
https://brainly.in/question/8370405
Similar questions