Question

Purchased goods from Kamal for Rs.25,000 at a trade discount of 20% and Cash discount of 5%. Paid 70% amount immediately half by cheque half by cash​

Answer 1

Answer:

Explanation:

journalise the following transaction in the books of MS Ashok Enterprises Bhopal 1.purchase goods from Rahul Rs 50000 Rs 20 % discount + 5% II. sold goods to Neeraj 15000 + 10% Vat III. cash sales from remaining goods Rs 40,000 + 10% vat Iv.vat was deposited into government account on the due date