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Oswal Woollen Mills, Amritsar (Punjab) sold shawls to Gupta Shawls, Jaipur as per details:Sold 100 shawls ₹ 200 per shawl on 4th January, 2019, IGST is levied 12%. Trade Discount 25% and Cash Discount 5% if full payment is made within 14 days. Gupta Shawls sent 50% of the payment on 14th January, 2019 and balance payment on 10th February, 2019. Pass Journal entries. |
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Answer» Oswal Woollen Mills, Amritsar (Punjab) sold shawls to Gupta Shawls, Jaipur as per details: Sold 100 shawls ₹ 200 per shawl on 4th January, 2019, IGST is levied 12%. Trade Discount 25% and Cash Discount 5% if full payment is made within 14 days. Gupta Shawls sent 50% of the payment on 14th January, 2019 and balance payment on 10th February, 2019. Pass Journal entries. |
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