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Oswal woollen Mills, Amritsar (punjab) sold shawls to Gupta shawls, Jaipur as per details: sold 100 [email protected] 200 per shawl on 4th January 2018, IGST is [email protected]%. Trade discount 25% and cash discount 5 person if full payment is made within 14 days. Gupta shawls sent fifty percent of the payment on 14th January 2018 and balance payment on 10th February 2018.. Pass journal entries. |
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Answer» GUPTA a/c Dr. 16800 To Sales a/c 15000 To IGST PAYABLE a/c 1800
Cash a/c Dr. 8400 To Gupta a/c 8400 Cash a/c Dr. 8400 To Gupta a/c 8400 Note: Cash discount won't apply as full payment is after 14 days |
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