Question

Supplied goods costing Rs. 5,000 to Mr. Z. Issued invoice at 10% above cost price less 2% trade discount. How Do I Journalise this?

Answer 1

Z A/c Dr. 5390
To sales A/c 5390
trade discount will not pass through journals. Rs.5000 worth good given at an increased price of 10℅ which is 5000+500 and a trade discount of 2% which is 5500-110

Answer 2

Explanation:

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