Question

Sold good to jagdish 5000 and allowed trade discount of 5% and charged 5% sales tax extra and paid rs 100 carriage entry

Answer 1

Answer:

Explanation:

               In the books of Journal Entry

     Particulars                               Amount  Amount            

Jagdish A/C       Dr.                        5000

carriage A/C      Dr.                        100

sales Tax                                         250

        To, trade discount A/c                          250

         To, sales A/C                                        5100

[ Being goods sold of costing Rs. 5000 in credit & allowed trade discount @ 5% and charged sales tax @ 5% and also paid the carriage of Rs. 100 ]