Question

(xiii) Sold to Gupta Shawls, 100 shawls @ * 200 per shawl on 4th January, 2020. Trade
Discount 25% and Cash Discount 5% if full payment is made within 14 days. Gupta
Shawls sent 50% of the payment on 14th January, 2020 and balance payment on
10th February, 2020. journal entry ​

Answer 1

Answer:

1

angela12344567890

angela12344567890

12.07.2020

Accountancy

Secondary School

+8 pts

Answered

Sold to Gupta Shawls, 100 shawls @ Rs. 200 per shawl on 4th January, 2020. Trade

Discount 25% and Cash Discount 5% if full payment is made within 14 days. Gupta

Shawls sent 50% of the payment on 14th January, 2020 and balance payment on

10th February, 2020.

(Hint: Gupta Shawls will not get cash discount as full payment is not made by it within

14 days.)

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please answer quickly...

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Answer

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12

Bajwa302

Expert

277 answers

25.4K people helped

Answer:

It is easy ,you have done in your previous question. Debit the receiver,credit the giver So ,

Gupta shawls a/c dr 15000

To sales a/c 20000

Working notes

Cost:200×100=20000

Less TD 25%

20000×25/100=5000

20000-5000=15000

Now he will not get cash discount ss he had not made full payment within 14 days

Explanation:

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