Question

purchased goods of Rs 90000at 10%TD and 10%CD from rakesh 1nd 1/3 amount received by cheque​

Answer 1

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