Sold goods costing Rs.20,000 to sell at a profit of 20% on sales less 20% trade discount and paid cartage Rs. 150 (to be charged from the customer)...journal entry of this including GST
Answers
Costing = 20,000
Add: Profit @ 20% = 4,000
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= 24,000
Less: Disc. @ 20% = 4,800
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= 19,200
Sold at Profit = 19,200
Add: CGST(Assuming 9%) = 1,728
Add: SGST(Assuming 9%) = 1,728
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= 22,656
"Sold Goods Costing at = Rs 20,000
Include: Sell a Profit @ 20% = Rs 4,000
Total = Rs 24,000
Less: Discount. @ 20% = Rs 4,800
So, the total with discount = Rs 19,200
Sold at Profit = Rs 19,200
Include: CGST (Assume that 9%) = 1,728
Include: SGST (Assume that 9%) = 1,728
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= Rs 22,656
Being good sales to customer with GST and paid cartage"