Sold goods of RS.20,000 td.10%cd.2%, shyam,75%of payment received in cash
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Answer:
CashA/C.........................................Dr 13,230
ShyamA/C.....................................Dr 4,500
Discount allowed A/C...............Dr 270
To salesA/C. 18,000
Explanation:
Trade Discount = 20,000*10/100= 2,000
( NOT RECORDED IN BOOKS OF ACCOUNT)
Sale of goods worth = 18,000
Cash Discount = 18,000*75/100*2/100 = 270
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