Question

Purchased goods from K Rs5,000 at 10% trade discount ​

Answer 1

Answer:

HOPE IT HELPS U , IF YES THEN MARK ME AS A BRAINLIST THANK YOU ^^

Step-by-step explanation:

List price = Rs.50,000

Trade Discount  = 10%(50,000) = Rs.5000

Agreed Price = Rs.50,000 - Rs.5000 = Rs.45,000

Immediate cash payment = 50%(45,000) = Rs.22,500 - Rs.2250 = Rs.20,250

Cash Discount = 10%(22,500) = Rs.2250

Journal Entry

Purchases A/C   Dr   Rs.45,000

          To Cash A/C         Rs.20,250

          To Cash Discount A/C   Rs.2250

          To Ram A/C Rs.22,500

(being goods purchased from Ram)