Question

Ravi purchased on credit goods for Rs 5,00,000 less 20% Trade Discount. As per the terms, he can deduct 4% Cash discount if he pays full amount within 15 days what amount he will have to pay to avail the cash discount

Answer 1

HEY......

U R ANS.....  

JOURNAL ENTRY :-    

PURHASE AC DR

CASH DISCOUNT AC DR

           TO CREDITOR AC CR

MAYBE  IT HOLPS U........

Answer 2

Ravi purchased on credit goods for Rs 5,00,000 less 20% Trade Discount. As per the terms, he can deduct 4% Cash discount if he pays full amount within 15 days what amount he will have to pay to avail the cash discount