Question

sold goods to Leela list price Rs 2000 trade discount 10% and cash discount 5% partnership with them on the same day​

Answer 1

Explanation:

sold goods worth Rs. 20,000 at 10% Trade discount and 5% cash discount. show the journal entry.

Answer:

Explanation:

                       In the books of journal Entry

particulars                                         amount       amount

Sales A/C Dr.                                      17000

Trade discount A/C                            2000

Cash discount  A/C                             1000

     To, Goods A/C                                                   20000

[ goods sold worth Rs. 20000 with trade discount and cash discount. ]

workings :

Trade discount @ 10% = 20000 * 10% = 2000

Cash discount @ 5% = 20000 * 5% = 1000

Answer 2

Explanation:

cash account dr. 17100

discount allowed account dr 900

to sales 18000

trade discount ka entry nahi hota