Sold goods worth list price of 5,000 at 10% trade discount. 25% of the payment is received and allowed 4% cash discount. The amount of Discount allowed is:
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50000 Goods Sold
10 % trade discount
50000×10÷100 = 5000
50000–5000 = 45000
50% received by cheque means Bank
45000×50÷100 = 22500
20% by Cash
45000×20÷100 = 9000
10% cash discount
Cash 9000 so ,
9000×10÷100 =900
9000–900 = 8100
Cash received 8100 and 900 is discount
Remaining balance 13500 goes to purchasers account suppose X's A/c
Bank ac dr 22500
Cash ac dr 8100
Discount ac dr 900
X's ac dr 13500
To Sales ac 45000
Dr = Cr = 45000
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