Question

write journal entry
sold goods. costing 100000 at profit 20% on cost and trade discount 25% in cash​

Answer 1

Answer:

Amount of sale =

Cost =. 100000

(+) profit (20%). =. 20000

=120000

(-) trade discount = 30000

25%of 120000

Amount of sale = 90000

Journal entry

Cash account. dr 90000

To sale account. 90000