what is the journal entry for " purchase goods for Rs 200000 less trade discount of 20% and 5% cash discount from ajay for cash and supplied them to shafi at list price less 10% trade discount"
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Date | Particulars | L.F. | Debit Amount (Rs) | Credit Amount (Rs) | |
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| Purchase A/c | Dr |
| 1,60,000 |
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| To Cash A/c |
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| 1,52,000 |
| To Discount Received A/c |
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| 8,000 |
| (goods purchased list price Rs 2,00,000,trade discount 20%,cash discount 5% ) |
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| Shafi A/c | Dr |
| 1,80,000 |
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| To Sales A/c |
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| 1,80,000 |
| (goods supplied to Shafi Rs 2,00,000, trade discount 10%) |
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