Mittal Cycles purchased 100 cycles from Hero Cycles, Ludhiana (Punjab) @ 1,200 per cycle. Hero Cycles allows 10% Trade Discount and 3% Cash Discount if payment is made within 14 days. Mittal Cycles received 10 Cycles damaged during transit, which it returned Mitttla Cycles settled the payment in 10 days time.

Pass Journal entries for teh above transactions.

Anurag Pathak Changed status to publish 5 days ago