Question

(vi) Journalise the following transactions in the books of Rajan of Delhi:
Sold goods to Krishna of Delhi at the list price Rs 20,000 less trade discount 10% add CGST and
SGST @ 9% each., and allowed cash discount 5%. He paid the amount immediately.​

Answer 1

Answer:

Cash a/c. dr 20178

Trade dis a/c. dr 2000

Cash dis a/c. dr 1062

To Sales a/c. 20000

To CGST a/c. 1620

To SGST a/c. 1620

Explanation:

cash a/c. dr 18000

discount a/c. dr 2000

To Sales a/c. 20000

(Being goods sold)

CGST a/c. dr 1620

SGST a/c. dr 1620

To Bank a/c. 3240

(Being taxes paid by bank)