Question

solve :- sold goods to krishna at Rs.20,000 at 10% Trade discount and 2½ % Cash discount and received half the amount in cash

Answer 1

When Goods are sold : Krishna A/C.    Rs.17,550 Discount Allowed A/C. Rs.450      To Sales A/C. Rs. 18,000 (Being goods sold to Krishna) When half amount is received : Cash A/C Dr. Rs.8775     To Krishna A/C  Rs. 8775 (Being cash received from Krishna)