Question

Q. 8. Give Journal Entries for the following transactions in the books of Raja Ram:
2005
March 3 Bought goods for cash of the list price of 580,000 at 10% trade discount and
2% cash discount
5 Sold goods for cash of the list price of 1,00,000 at 15% trade discount and 3%
cash discount.
6 Sold goods to Nagpal of the list price of 50,000 at 20% trade discount.
8 Nagpal returned one-fourth of the above goods.
10 Nagpal settled the account by paying cash under a discount of 5%.
[Ans. Total 52,37,000; Cash Discount on March 3 31,800; on March 5 32,550
and on March 10 1,500.]​

Answer 1

Answer:

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