Question

Q.8. Pass necessary journal entry to record the following transation
Goods of list price Rs. 15,000 was purchased @ 15% Trade discount from Ramesh and
paid to him Rs. 12,500 in full settlement.​

Answer 1

Explanation:

purchase a/c dr 15000

to Ramesh a/c. 2250

to Discount received a/c 12750

Ramesh a/c dr. 12500

to cash a/c 12500

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