Question

Sold goods of 50000 at 10% trade discount and 10% cash discount to raj and received 50% by cheque and 20% on cash

Journal entry​

Answer 1

Answer:

raj's a/c dr 12150

Discount allowed a/c dr 4500

bank a/c dr 20,250

Cash a/c dr 8100

To sales a/c 45000

Explanation:

Answer 2

Answer:

Explanation:

Raj A/c                        Dr          12150

Discount Allowed A/c  Dr     4500

Bank A/c                    Dr          20250

Cash A/c                      Dr        8100

     To Sales A/c                                      45000

(Trade discount is not recorded in the books thus the value of sales will be 45000)