Question

sold goods purchased at list price of rs. 50000 less 15% trade discount sold at a profit of 25% less 10% trade discount against cheque. pass this journal entry. ​

Answer 1

Answer:

Bank AC. Dr. 47812.5

Discount AC. Dr. 5312.5

To sales AC. 53125

Explanation:

cost = 50000*85/100

= 42500

profit of 25%

then sale price = 42500*125/100

=53125

trade discount 10%

53125*10/100

5312.5