Question

Q. 4. Pass entries for the following transactions in the books of M/s Karthikeyan
& Co. of Chennai :
2019
June 10 Purchased goods from Ravichandran of Madurai of the list price of 2,00,000 at
25% trade discount at 4% cash discount on purchase price of goods. Paid CGST and
SGST @9% each. Paid the entire amount by cheque on the same date.
June 25 Sold goods to Ramalingam of Erode of the list price of 3,75,000 at 20% trade
discount and 2% cash discount on sale price. Charged CGST and SGST @9% each.
Full amount was received by cheque on the same date.
Ignore adjustment and payment of GST.
[Ans. Total 5,31,000;
June 10: Net amount paid 1,71,000; Discount Received 6,000.
June 25 : Net amount received 3,48,000; Discount allowed 6,000.]​

Answer 1

Answer:

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