Question

sold goods to Vinu Rs.120000, less 3% trade discount

Answer 1

Rs.116400 sold to vinu

Answer 2

Question:-

Sold goods to Vinu ₹1,20,000 less 3% trade discount.

Answer:-

$➝amount = 120000 \\ ➝trade \: discount = 3\% \\ ➝120000 \times \frac{3}{100} = 3600 \\➝ 120000 - 3600 = 116400$

$\sf\blue{journal \: entry \: is}$

$\bold{Cash a/c Dr. 120000}$

To Vinu a/c. 116400

To Trade discount a/c. 3600

(sold goods to Vinu with less trade discount)

• we have to debit the cash that get from sales and credit the discount and the cash from Vinu the customer.