Question

(vi) Sold goods of list price 50,000 less 20% trade discount. Charged IGST @ 12%. Cash
discount allowed @ 2% against cheque payment.
5. Pass Opening Journal entry
23 with calculation​

Answer 1

Answer:

(vi) Bank a/c dr 43,904

Discount allowed a/c dr. 896

to sales a/c 40,000

to output IGST a/c 4800