Pass Journal entries for the following. Purchased goods from Henry for ₹ 50,000 on 10% trade discount and 4% cash discount and paid 60% amount by cheque.
Pass Journal entries for the following:
| 2025 | |
| April 6 | Purchased goods from Henry for ₹ 50,000 on 10% trade discount and 4% cash discount and paid 60% amount by cheque. |
| 15 | Bought goods from Amit for ₹ 2,00,000 at terms 5% cash discount and 20% trade discount. Paid 3/4th of the amount in cash at the time of purchase. |
| 18 | Sold goods to sherpa at the list price of ₹ 50,000 less 20% trade disocunt and 4% cash discount if the payment is made within 7 days. 75% payment is received by cheque on April 23rd. |
| 25 | Sold goods to Garima for ₹ 1,00,000, allowed her 20% trade discount and 5% cash discount if the payment is made within 15 days. She paid 1/4th of the amount by cheque on May 5th and 60% of the remainder on May 15th in cash. |
[Ans. Cash Discount on April 6th ₹ 1,080; On April 15th ₹ 6,000; on April 23rd ₹ 1,200; and on May 5th ₹ 1,000.]
Anurag Pathak Changed status to publish
