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Fundamentals of Accounting

Shared from Fundamentals of Accounting - 2 on Dec 29, 2017 12:40 PM

What amount is to be charged to the account of M/s Shahji & Co. for the transaction of goods worth Rs. 50,000 purchased from M/s Shahji & Co. @ 10% trade discount & 5% cash discount, if half amount is paid by cheque?

Rs. 50,000
Rs. 45,000
Rs. 22,500
Rs. 21,375


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It will be more helpful if journal Entry is written in explanation For eg in this case Cash A/c Dr M/s Shahji A/c Dr To Sales A/c