Question

Q. Purchase good of Rs.10,00,000 from dinesh and receive trade discount 20%and cash discount 10%.75%payment received in cash and balance by cheque?

Answer 1

Answer:

purchase a/c dr . 800,000

To bank a/c. 540,000

To discount recieved a/c 60,000

To dinesh a/c. 200,000

Explanation:

value of goods. =10,00,000

20 percent trade discount =200,000

less. =800,000

75 percent of 800,000 =600,000

10 percent cash discount=60,000

less. =540000

Answer 2

Ans:purchase a/c Dr. 1000000

To cash a/c. 180000

To bank a/c. 540000

To cash dis a/c. 80000

Explanat