Give Journal Entries for the following transactions in the books of Raja Ram & Co. Bought goods for cash of the list price of ₹ 4,00,000 at 10% trade discount and 21/2% cash discount.
Give Journal Entries for the following transactions in the books of Raja Ram & Co.:
[Ans. Total ₹ 6,90,000; Cash Discount on March 3 ₹ 9,000; on March 5 ₹ 5,100 and on March 10 ₹ 3,000.]
| 2025 | |
| March 3 | Bought goods for cash of the list price of ₹ 4,00,000 at 10% trade discount and 21/2% cash discount. |
| 5 | Sold goods for cash of the list price of ₹ 2,00,000 at 15% trade discount and 3% cash discount. |
| 6 | Sold goods to Nagpal of the list price of ₹ 1,00,000 at 20% trade discount. |
| 8 | Nagpal returned one-fourth of the above goods. |
| 10 | Nagpal settled the account by paying cash under a discount of 5%. |
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