Question

purchased goods of list price 160000 from RazaqKhan less 10percent trade discount and 5 percent cash discount and 40percent amount paid by cheque​

Answer 1

Purchases ac dr 144000
Cash discount cr 7500
Cash ac cr (60% of 136800)
Bank ac cr (40% of 136800)
(Goods purchased and discount received )

Answer 2

Explanation:

purchase account dr. 144000

input CGST dr. 3600

input SGST dr. 3600

To Razaq Khan. 90720

To Bank account. 57456

To Discount received account. 3024

( Being purchased at GST , 40 percent payment made by cheque at cash discount of 5 percent)