Sold goods worth list price of 8000 at 10% trade discount and 2% cash discount 25% received at the time of transaction only the amount posted to discount account will be
Answers
Answer:
Cash A/c Dr 1764
Discount Allowed A/c Dr 144
Debtors A/c Dr 5292
To Sales A/c 7200
Explanation:(The question is not completely posted here,but to the best of my understanding i have posted the entry)
Trade discount(not recorded in books) 8000*10%=800
Sales Value=8000-800=7200
Cash discount=7200*2%=144
Cash paid at the time will be 7200-144=7056*25%=1764
Cash not paid by Debtor will be debited to his account with=7056-1764=5292
Answer:
Cash A/c Dr 1764
Discount Allowed A/c Dr 144
Debtors A/c Dr 5292
To Sales A/c 7200
Explanation:(The question is not completely posted here,but to the best of my understanding i have posted the entry)
Trade discount(not recorded in books) 8000*10%=800
Sales Value=8000-800=7200
Cash discount=7200*2%=144
Cash paid at the time will be 7200-144=7056*25%=1764
Cash not paid by Debtor will be debited to his account with=7056-1764=5292
Explanation:
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