purchased goods of Rs 90000at 10%TD and 10%CD from rakesh 1nd 1/3 amount received by cheque
Answers
Answer:
Transactions Dr. Cr.
Purchases 72900
Discount Received 8100
Bank A/c 24300
Cash A/c 48600
Explanation:
Cost of Goods = Goods Sale price - Trade discount (@10%)
=90000-9000
=Rs. 81,000 (trade discount is not recorded in books )
Cost of purchased goods = cost - Discount Received (@10%)
=81000-8100
=Rs. 72,900
By cheque (One-thrid of the ammount):
=81000(1/3)
=Rs. 24,300
In Cash:
=72900-24300
=Rs 48,600