Question

whole seller sold 55 items to retailer at a price of 200 each less 20% trade discount the retailer substrates return 12 of these items as a result of the retailer should be sent a Credit note of for how much amount​??
plz answer soon

Answer 1

Answer:

credit note amount =RS.1920 /-

Explanation:

Trade discount is not shown in the books of accounts. It is shown in the narration.

goods sold is recognized @ value

55*200*20% = 8800

12 items returned to seller

credit note amt = 12*200*20% = 1920

DEBTOR BALANCE : 8800 - 1920

= 6880.