Question

Sold goods to neeraj of ₹25000 received cash 10,000 and balance by cheque allowed him discount 500 cash of two column​

Answer 1

Answer:

Cash A/c Dr. 10000

discount allowed A/c Dr. 500 (if cash discount)

Bank A/c. Dr. 14500

To Sales A/c. 25000

(Being goods sold to neeraj and Amt. paid in cash and cheque and allowed cash discount of RS 500)

Explanation:

listen If it is cash discount there will be entry of discount but if it is trade discount there will be no entry of it.