Question

Purchases goods whose list price is Rs 6000 from Mohan Lal at 10% trade discount and 3% cash discount .cash discount was paid 80 % of the amount
Pass journal entry

Answer 1

Answer:

purchases a/c Dr. 5400

To cash a/c. 4190

To discount received.a/c 130

To Mohan a/c. 1080

( being goods purchased)