Sold goods purchased at price of ₹ 50000 less 15% trade discount sold at a profit of 25% less 10% trade discount against cheque.
Journalise the transactions.
Answers
Answered by
2
Answer:
52 594
Explanation:
Journal entry -
Bank a/c Dr. - 52594
To Sales a/c - 52594
Working notes -
Cost price of goods = 50,000 x 85/100 = 42,500.
Selling price of goods = 42,500 x 125/100 = 53,125.
Trade discount = 10/100 x 53,125 = 531
Trade discount is not shown in books.
Net selling price = 53,125 - 531 = 52,594.
Hope u will get it friend!
Answered by
2
COST PRICE of GOODS = 50000*85/100=42500
SELLING PRICE of GOODS=42500*125/100=53125
Tradediscount=10/100*53125=531
Trade discount is not shown in books
Net selling price=53125-531=52594
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