Question

sold goods to anil for 20000 allowed him 10%trade discount and 10% cash discount received half of the amount by cash and balance half by cheque within specied time​

Answer 1

Answer:

1) Anil A/C Dr 16200

Discount Allowed A/c Dr 1800

To Sales A/C 18000

(Being Goods sold on credit with trade & cash discount allowed)

2) Cash A/C Dr 8100

Bank A/C Dr 8100

To Anil A/C 16200

(Being Amount received from anil half amount received in cash & half amount received by cheque)

Answer 2

Explanation:

sold goods to anil for 20000 allowed him 10%trade discount and 10% cash discount received half of the amount by cash and balance half by cheque within specied time