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.
[Hint: Gupta Shawls will not get cash discount as full payment is not made by it within
14 days.]
Louro​

Answer 1

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:200x100=20000

Less TD 25%

20000x25/100=5000

20000-5000=15000

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

I HOPE THIS HELP YOU

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