Question

sold goods for 15000 at a trade discount of10% and cash discount 5% journal transaction ​

Answer 1

Explanation:

list price =15000

trade discount (10%)=1500

agreed price=13500

cash discount (5%)=675

journal entry

purchase a/c Dr 13500

to cash a/c 15000

to discount a/c 675

(being goods purchased at 5% cash discount)