Question

Sold goods for Cash of the list price of 325,000 at 20% trade discount and 5% Cash
discount.​

Answer 1

list price =  325000

     (-) t.d =    65000  (20%)

              =  260000

     (-) c.d=      13000   (5%)

              =   247000  (invoice price)

Cash  A/c .........Dr                                 247000

Discount Allowed  A/c ..........Dr             13000

  To Sales  A/c                                                              260000