Question

sold goods to Amit Rs 4000 less 10% trade discount and received cheque and next day after allowing 5% cash discount what is the joural entry???​

Answer 1

Bank A/C Dr. 3420

Discount allowed A/C Dr. 180

To Sales A/C 3600

(Being sold goods)

Working notes:

List price ➡️4000

Less: 10% TD➡️4000-400

➡️3600

Less: 5% CD➡️3600-180

➡️3420

Answer 2

$\huge\bf\underline{Answer:-}$

According to the given question:-

• Sold good to Amit is rupees 4000
• 10% trade discount and received cheque.
• 5% next day after allowing the cash discount.

We need to find the what is the joural entry.

10% = 400 and subtraction (4000 - 400)

$= (3600) = (4000 - 400)$

Then if it is 5% cash discount:-

5% = 180 and subtraction (3600 - 180)

$= (3420) = (3600 - 180)$

$\boxed{Therefore, \:3420\: is \:the \:joural\: entry.}$