purchased goods from daga traders at a list price of Rs.6000 at 10% T.D and 2% C.D cash payment is made of half the amount. what will be the entry passed for this transaction in the journal of 'Arun'.
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Answer:
Purchase a/c. Dr. 5400
To Cash a/c. 2646
To Daga Traders. 2700
To Dis RCVD. 54
Explanation:
Purchase. 6000
less: TD. 600
NET. 5400
Cash. 2700
less:CD. 54
Paid. 2646
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