Question

Sold goods to Mohan for 80000
at a trade discount of 20 %. and
cash discount of 2%. Paid 1/4 amount
immediately to avail cash discount.​

Answer 1

Answer:

Cash a/c Dr. 15,680

Mohan's a/c Dr. 48,000

Discount allowed a/c Dr. 320

To sales a/c 64,000

Explanation:

Important points to remember...... ☺️

1. Trade discount never recorded in books of accounts

2. Cash received mila na toh cash discount minus krke mila h.... yaad rakh bhai....

3. Exam mein bahot baar bhul jaaega pressure mein exams ke.... so.... aur 1 ya 2 marks cut kre ga kyu ki..... journal entry ka marks.... aur last mein totalling kre ga voo bhi galat.... so isiliye....