Question

Sold goods to Sunita worth 30000 at 10% trade discount and 5% cash discount. Received 1/3 amount in cash and 1/3 amount in cheque, 5% cash discount allowed?

Answer 1

Answer:

Cash A/C........................................Dr 8,550

Cash Discount received A/C...Dr 450

SunitaA/C......................................Dr. 9,000

Bank A/C.......................................Dr 9,000

To sales A/C. 27,000