Question

Sold to Gupta shawls @₹200 per shawls on 4th January, 2020.Trade discount 25% and cash discounts 5% if full payment is made within 14days Gupta shawls sent 50% payment on 14th January 2020 and balance payments on 10th February 2020.

Gupta A/c dr 7500
cash A/c dr 7125
Allowed discounts A/c dr 376
To sales A/c 15000

This is right solution ​

Answer 1

Explanation:

Sold to Gupta shawls @₹200 per shawls on 4th January, 2020.Trade discount 25% and cash discounts 5% if full payment is made within 14days Gupta shawls sent 50% payment on 14th January 2020 and balance payments on 10th February 2020.

Gupta A/c dr 7500

cash A/c dr 7125

Allowed discounts A/c dr 376

To sales A/c 15000

This is right solution

thanks for free points