)PurchasedgoodsfromShyamandco.,Delhioflistprice Rs.25,000/-at20%tradediscountand3%cashdiscount onvalueofgoods.PaidCGSTandSGST@6%each. Paymentwasmadeimmediatelyandavailedcash discount.
Answers
Answered by
0
Discounts may be offered on sales of goods to attract buyers. Discounts may be classified into two types:
Trade Discounts: offered at the time of purchase for example when goods are purchased in bulk or to retain loyal customers.
Cash Discount: offered to customers as an incentive for timely payment of their liabilities in respect of credit purchases.
Trade Discounts: offered at the time of purchase for example when goods are purchased in bulk or to retain loyal customers.
Cash Discount: offered to customers as an incentive for timely payment of their liabilities in respect of credit purchases.
Similar questions