Question

purchased goods from meeta worth 40000 @10% trade discount and paid 1/4th amount in cash and 1/4th amount by cheque for which 5% discount was allowed​

Answer 1

Answer:

Purchase A/C...DR. 45000

To Henry A/C. 17200

To Bank A/C. 25800

To Discount Received A/C 2000

Working Note-

..Purchase done for 50,000 out of which we got trade discount 10%=5000

..Cash discount received 4%=2000

SO AFTER DEDUCTING TRADE DISCOUNT FIRST AND THEN SECOND CASH DISCOUNT,we get amount 43,000

..NOW 60%of 43000paid in cheque which is 25800

..17,200is still credit

Read more on Brainly.in - https://brainly.in/question/5056132#readmore