4.PARMATMA Ltd. Delhi invoices goods to its Mumbai and Kolkata branch offices at 20% less than the list price which is costplus 50% with instructions that cash sales are to be made at invoice price and credit sales at list price.Opening Stock at Mumbai at its cost * 1,53,600.Goods Sent to Mumbai (at cost to Delhi) 2,20,000.Cash Sales 1,49,600, Credit Sales 2,90,000Goods returned by Credit Customers to Mumbai +90,000.Goods returned by Mumbai to Delhi #72,000.Loss of Goods by fire (at invoice price) 6,000 against which 80% of cost was recovered from the insurance Company.Loss of Goods at Mumbai through normal pilferage (at list price) 6,000.Debtors at Mumbai:Opening * 10,000Cash remitted by Mumbal Branch to HO: 73,24,870.Discount Allowed to Debtors 26,730.Goods received by Mumbai till close of the year 2,54,000.Provision is to be made for discount on Debtors at 15% on prompt payments at year end on the basis of year's trend of promptpayments.Cash remitted by HO to Branch for Expenses:18,000Branch Expenses still outstanding:* 1,482Manager is entitled to a commission @ 6% of net profits after charging such commission​