Question

supplied goods costing Rupees 6000 to Mohan of Kolkata issued in voice at 10% above cost less 5% trade discount plus IGST at 18%​

plz answer fast it's urgent

Answer 1

Mohan A/c_Dr (7,399)

To Sales A/c (6,270)

To Output IGST A/c (1,129)

(Being goods sold to Mohan at 5% trade discount and charged IGST @ 18%)

Reason : Mohan Account is debited because it increases the balance of Debtors(Assets) Account, Sales(Revenue) Account is credited because it increases the balance of Sales(Income) Account and Output IGST Account is credited because it increases the balance of Output IGST(Liability) Account.

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