Accountancy, asked by garvagarwal1276, 1 year ago

sold goods costing 600 to mohan issued at 10%above cost less 5% trade discount

Answers

Answered by depanshsaxenaowtg22
4
Mohan. Dr. 627
To sales a/c. 627
Answered by Minnie75
2

List Price = Cost price + 10% (cost price)

List Price = Rs600 + 10% (600)

= Rs 600 + Rs60 = 660

Trade Discount = 5% (Rs660) = Rs 33

Invoice Price = Rs 660 - Rs 33 = Rs 627

Journal Entry :-

Mohan A/C Dr. Rs 627

To sales A/C Rs 627

Hope it may helps you ^_^

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