Sold goods to Mehul and company worth 5000 at 10% trade discount and 10% cash discount half the amount received by cheque + I GST 12%.

Solution:
Journal
Date  Particular L.F. Debit(Rs) Credit (RS)
(i)








 
Mehul & Co. A/c                                              ... Dr.
Discount allowed A/c                            ... Dr.
     To sales A/c
      To output IGST A/c
(Being goods sold on credit @ 10 % trade discount and 10 % cash discount)
 




   4536
      504






​​​​​​

​​​​​
    4500
      540
working note:
1) list price : RS 5,000
Less : TRADE DISCOUNT @ 10 % OF RS 5,000
SALE PRICE; Rs 5,000 - RS 500
                     ; Rs 4,500
IGST = 12% of RS 4,500
          = Rs 540
amount received= rs 4,500 + RS 540
                           = RS 5040
LESS: cash discount @ 10 % of Rs 5040
            = RS 504
amount receives on sale= Rs 5040 - Rs 504
                                       = Rs 4536
 

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