Question

Q.no.8
3 .Bought goods for cash of the list price of 80,000 at 10% trade
discount and 2.5
% 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%.

Answer 1

Answer:

Explanation:

Journal entries of purchase , sale, credit sale ,sales return and settlement of the amt of credit sale

Journal total 237000