Question

Sold good at 80000 at 20 % profit on sale trade discounts 10% cost discount 5 % deposits 60% it by check gst 5 % write journal entery ?

Answer 1

Answer:

2592

Explanation:

given :

Bank A/C (60% of 96000)dr.57600

trade discount A/C (W.N.I)dr.5760

cash discountA/C(w.n.2)

Party /debtorA/C (b/f)

to sales A/C (w.n)=96000

working note (w.n)

sold sale price20%+cost price

80000+(80000×20%)=96000

out of that 60% was paid

→96000×60%

→57600

i) calculate of trade discount 10%of list price

→57600×10%=5760

ii) calculation of cash discount

calculation after deducting

trade discount from list price

5%of (57600-5760)

→2592

hope it's helpful

Thank you.......

Answer 2

Answer:

see this screenshot taken by my friend from her account