Question

sold goods to Roma for for rupees 5000 at 20% trade discount in 3% cash discount half of the payment was immediately​

Answer 1

Explanation:

Cash A/c Dr 1940

roma A/c Dr 1940

discount A/c Dr 120

To sales A/c 4000

sales = 5000

20% trade discount 5000×20/100= 1000

Actual sales = 5000- 1000 = 4000

3 ℅ cash discount 4000 × 3/100= 120

sales after discount 3880

half cash paid immediately 3880 @ 50℅= 1940