Can you please show the steps and calculation for the following transaction:
Bought goods from kailash for Rs.20000 at a trade discount of 10% at cash discount of 2% paid 60% amount immediately.
Dear Student
The Step wise calculation for the purcase transaction :
Regards
The Step wise calculation for the purcase transaction :
1. Bought Goods of the Value | 20,000 |
Less : Trade Discount (20,000 x 10%) | 2,000 |
2. Purchase value to be recorded in Books of Accounts | 18,000 |
Less : Cash Discount (18,000 x 2%) | 360 |
3. Total Amount to be paid to Kailash for purchases | 17,640 |
60% Paid Immediately | 10,584 |
Balance to be paid to Kailash | 7,056 |
Regards