Question

Purchased goods from Ravi and company worth rs 80000 at 25% t.d and 5%c.d .paid them 30% amount in cash

Answer 1

Answer:

Purchase A/C Dr. 60,000

To Cash A/C 17,100

To Dis. Rec. A/C 900

To Ravi & Co. A/C 42,000

KEY

1. Dis. = Discount

2. Rec. = Received

3. Co. = Company