Question

sold goods to Vishal traders costing 40000 at 25% profit , allowing 10% trade discount and 10% cash discount . received 80% payment immediately by cheque​

Answer 1

Answer:

Vishal Trader _dr 4,500

Bank ac _dr 36,000

Discount Allowed ac _dr 4,500

To Sales ac 45,000

(being the sale of goods to Vishal Traders, allowing 10% discount. 80% payment received by cheque immediately.)

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