sold goods to nagpal of list price of 50000 at 20% trade discount and nagpal returned one-fourth of the above goods
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Answer: 1st entry
nagpal a/c dr 40000
discount a/c dr 10000
to sale a/c cr 50000
( goods sold )
2nd entry
sale a/c dr 12500
to nagpal cr 11250
to discount a/c cr 1250
( 1/4 good received)
Explanation:
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