CBSE Class 11-commerce Answered
Bought goods against chepue of list price 5000 less 10% trade discount and 2% cash discount
Asked by agrawalgaurav441 | 12 Jun, 2020, 01:55: PM
Expert Answer
List price given is Rs. 5,000
Less: Trade Discount (10%) (Rs. 500)
Price after trade discount Rs. 4,500
Less: Cash Discount (2%) (Rs.90)
Net Payable Rs.4,410
Entry to be passed:
Purchases A/c Dr. Rs.4,500
To Discount Received A/c Rs.90
To Bank A/c Rs.4,410
Answered by Surabhi Gawade | 12 Jun, 2020, 02:56: PM
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