Accountancy, asked by prince7735, 11 months ago

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​

Answers

Answered by shivangi117
13

what is the question can't understood


prince7735: sold goods to vishal traders costing ₹40000 at 25% profit, allowing 10% trade discount and 10% cash discount. Recieved 80% immidiately by cheque.
prince7735: journsl entry of this question
shivangi117: what is journsl
prince7735: yes
Answered by franktheruler
7

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:  

   

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