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Dately. (b) 10% व्यापारिक छूट तथा 3% नकद छूट पर ₹ 8,000 का माल नकद वेचाGoods soldat 100% trade diccount journal entry​

Answer»

Explanation:1. Trade DISCOUNT is only recorded in the BOOKS and no entry is PREPARED for this.2. Presumed that cost of GOODS was Rs.8000.00.    I understand from the statement that Goods worth Rs.8000.00 10 % Trade Discount and 3% cash discountTotal calculations will be as under:-Sale of Goods, worth  Rs. 8,000.00Trade Discount 10%              800.00Sale                                       7,200.00Cash Discount 3%                  216.00Amount RECEIVED       Rs.  6,984.00Entry will beCash A/c Dr       Rs. 6,984.00Discount A/c Dr           216.00  To sales A/c                                     7,200.00(being Goods worth Rs.8000.00 sold 10 % Trade Discount (Rs.800.00 and 3% cash discount Rs.216.00)



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