Question

sold goods to ram of the list price of 125,000 less 20% trade discount and 2% cash discount and paid 40% by cheque journal entry​

Answer 1

Bank A/C Dr. 39.000

Discount allowed A/C Dr. 800

Ram Dr. 60,000

To Sales A/C 1,00,000

( Being sold goods to Ram )

Answer 2

bank a/c dr. 39200

discount all dr.800

Ram dr.60000

to sales a/c 100000