Question

Sold goods to Sunil for RS. 58,000 on 12.5 % trade discount and received a current dated cheque on 2% cash discount. Journalise.

Answer 1

Answer:

Explanation:

Bank A/c Dr        49,735.00

Discount A/c Dr     1,015.00

  To Sales A/c                     50,750.00

(Being sold goods to Sunil for RS. 58,000 on 12.5 % trade discount and received a current dated cheque on 2% cash discount)