Question

purchased goods worth rupees 20000 from Mr Nagesh and paid him half the amount at 2% cash discount


plzz write the journal entry for above transaction ​

Answer 1

Answer:

purchases  ...dr. 20000

  to cash                                   9800

   to discount received              200

   to nagesh                               10000

Explanation:

Answer 2

Answer : -

Purchase A/c _____ Dr. 20,000

To cash A/c 9,800

To discount A/c 200

To Nagesh's A/c 10,000

Narration : - Being purchased goods from Mr. Nagesh at 2% cash discount.