Question

Sale of goods to krishna for rs 100000 at 10 %trade discount half the amount paid in cash and balancr by cheque after cash discount of 10%

Answer 1

Answer:

cash A/c. dr. 40,500

bank A/c. dr. 40,500

Discount Allowed A/c. dr. 9,000

to sales A/c. 90,000

as cash comes in and bank is a receiver and discount Allowed is an expense so they are debited while sales is incomes thus it is credited

1,00,000 - 10 percent trade discount

=90,000

while 10 percent cash discount on 90,000 will be 9,000 that is the amount left will be 81,000.

half of 81,000 is 40,500 thus added to both cash account and bank account.

Hope I was able to make you clear with the thing☺️☺️