Question

Sold goods of the list price 15,000 to Kamal at 10% trade discount and 2% cash discount. Kamal paid the amount promptly.​

Answer 1

JOURNAL ENTRY:-

Cash A/c. Dr. 12,495

Discount allowed A/c. Dr. 255

To Sales A/c. 12,750

(being goods sold to Kamal and allowed @10% trade discount, @2% Cash discount)

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