Question

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

Answer 1

what is the question can't understood

Answer 2

Question:

Sold goods to Vishal traders costing rupees 40000 at 25% profit allowing 10% trade discount and 10% cash discount received 80% payment immediately by cheque​. Pass the journal entry.

Answer:

            In the books of journal entry

particulars                              amount     amount

Cost of goods sold A/C Dr.     40000

     To, Vishal traders A/C                           40000

[ being goods sold to vishal traders costing Rs. 40000 ]

Vishal traders A/C Dr.              40000                      

cash A/C Dr.                            5000

 Trade discount A/C                5000

         To, bank A/C                                      40000

          To,sales A/C                                      10000

[ goods sold to vishal traders with 25 % profit and allowing trade discount and cash discount ]

Explanation: