Question

.Purchased goods from jatin & Co. of list price Rs. 50,000 at 20% trade discount and 3% cash

discount. 50% of the payment was made immediately by cheque.​

Answer 1

Answer:

purchase A/c. Dr.. 40000

To cash. A/c. 19400

To jatin and co. A/c 20000

To discount received A/c 600