Purchased goods on credit for 5000 and also 8000 on payment of 3000 in cash and 5000 by cheque and discount received at 6per cent against cheque payment .pass journal entry
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Answer: purchases dr. 13000
To customer 5000
To cash 3000
To bank 4700
To discount receive 300
Explanation: discount is RECEVIED on cheque payment so.. 6% will be on 5000
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