Question

(purchased goods worth Rs.80000ess 20% trade discount and 5% cash discount.) what is the journal?

Answer 1

Answer:

purchases A/c Dr. 64000

To cash A/c 60800

To discount received A/c3200

Explanation:

the amount of trade discount will not be shown in journal entry

Answer 2

Explanation:

purchase ac Dr 79980

to cash ac. 75981

to discount ac. 3999