1.

Purchase goods of rs 500000,Trade discount @ 10%,cash discount @ 25%

Answer»

First Step

Subtract the TRADE discount

500000*10/100 =50000 Rs

So, 500000-50000
=450000 Rs

Remember trade discount is NEVER showed in the journal.

SECOND now subtract find the cash discount,

450000 *25/100=112500 Rs

Subtract it
450000 -112500 = 337500 Rs

Finally,

Purchase a/c Dr
450000
To cash a/c 337500
To discount RECEIVED a/c 112500
(being goods purchased)

_______________

If you find any mistakes PLEASE report

_______________

#thanks



Discussion

No Comment Found

Related InterviewSolutions