Question

Purchased goods from Mohan Kapoor, list price `6000 valued at `5400. journal entry
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Answer 1

Answer:

purchase a/c ............dr 6000

to mohan Kapoor a/c 5400

to discount received a/c 600

Answer 2

Answer:

Purchased A/C ...........Dr (6000+5400)=11400. To Cash A/C ..(11400)