Question

Sold goods worth rs. 20,000 at 8% trade discount

Answer 1

Sold goods worth ₹ 20,000 at 8% trade discount .

$\huge \underline \mathfrak \green{journal \: entry}$

$\color{red} \boxed{\frac{cash \: account \: dr \: 18400}{to \: sales \: account \: \: \: \: \: \: \: \: \: \: \: \: \: \: \: \: \: \: \: \: 18400} }$

( being goods sold on trade discount )

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Note...

(1) Narration should be write in case of Record transaction in journal .

(2) Trade discount is not shown in books of accounts But if cash discount is given then it's would be shown in books as discount received or allowed .

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