Question

Sold goods to Rajnish for Rs 1,00,000 less 10% trade dis. plus CGST and SGST

@ 9% each. Received half the amount by cheque immediately and allow 2%

cash discount . By what Amount Rajnish A/c is Debited.

(a) Rs 1,15,640
(b) Rs 1,06,038
(c) Rs 53,019
(d) None of the above​

Answer 1

JOURNAL ENTRY:-

Bank a/c. Dr. 53,100

Rajnish Dr. 53,100

To Output CGST a/c. 8,100

To Output SGST a/c. 8,100

To Sales a/c. 90,000

(being goods sold and half amount received)

Here only half amount paid by Rajnish so, the cash discount is not allowed.

d) NONE OF THE ABOVE.

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