Question

Sold goods to nagpal of the list price of rs 50000 at 20% trade discount

Answer 1

Answer:

Given...

Selling price of goods : 50000

less : (Trade dis. @20%)

20% of 50000

=10000

New SP = 50000-10000

=40000

So journal entry will be..

Nagpal 's a/c Dr. 40000

_____To sales a/c 40000

(being goods sold )

hope it helps...

Answer 2

hi..

SP : 50000

(Trade discount @20%)

20% of 50000

=10000

New SP = 50000-10000

=40000

journal entry

Nagpal 's a/c Dr. 40000

To sales a/c 40000

(being goods sold )