Question

v. 1
Purchased goods of 40000 from Ramanuj at 10 % trade discount. Bill no. 120.
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Answer 1

Answer:

10% of. 40000= 4000

therefore 40000-4000=36000

journal entry is

purchases A/c. Dr.

To Ramanuj A/c

(Being goods purchased from Ramanuj at 10% T.D)