Question

Sold Goods to Rakesh whose list price is RS.10,000, at 10% Trade Discount and 2% cash discount and 80% price recieved in cash

Answer 1

Cash Account Dr. 7056

Disc. allowed account Dr. 180

Rakesh account Dr. 1584

To sales account 8820

(Sold Goods to Rakesh whose list price is RS.10,000, at 10% Trade Discount and 2% cash discount and 80% price recieved in cash)

Step by step Explanation

Trade discount = 10%

Price Trade Discount = 9000

$10,000 - (10000 \times \frac{10 }{100}) = 9000$

Cash discount = 2%

price after cash discount = 8820

$9000 - (9000 \times \frac{2}{100} ) = 8820$

Cash received = 80%

$8820 \times \frac{80}{100 } = 7056$

Answer 2

Answer:

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Explanation:

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