journal entry for the foll (a) goods costing Rs 40000 were sold at 20% profit to pranay at - Accountancy - Recording of Transactions - II

Question

journal entry for the foll?
(a) goods costing Rs 40000 were sold at 20% profit to pranay at
10% Trade Discount and 10sh Discount 50% paid in cash and cartage
paid Rs 500

Jayati Jawa · Accepted Answer

Hey Darshana,
The solution to your query is provided below:

Journal

Date

Particulars

L F

Debit

Amount

(Rs)

Credit

Amount

(Rs)

1

Cash A/c

Dr

20,250

Discount Allowed A/c

Dr

2,250

Pranay

Dr

23,000

To Sales A/c

45,000

To Cash A/c (Cartage)

500

(Goods sold to Pranay)

<img alt="" width="636" height="489" src=
"https://s3mn%20mnimgs%20com/img/shared/discuss_editlive/6284054/2014_09_15_10_42_03/image1835167583025679223%20jpg">
Keep posting for further doubts!!

Journal
Date	Particulars		L.F.	Debit Amount (Rs)	Credit Amount (Rs)

1.	Cash A/c	Dr.		20,250
	Discount Allowed A/c	Dr.		2,250
	Pranay	Dr.		23,000
	To Sales A/c				45,000
	To Cash A/c (Cartage)				500
	(Goods sold to Pranay)

journal entry for the foll? (a) goods costing Rs. 40000 were sold at 20% profit to pranay at 10% Trade Discount and 10sh Discount. 50% paid in cash and cartage paid Rs. 500.

journal entry for the foll?

(a) goods costing Rs. 40000 were sold at 20% profit to pranay at 10% Trade Discount and 10sh Discount. 50% paid in cash and cartage paid Rs. 500.